Source: Pharmaceutical Technology
Takeda has signed an option agreement with Ascentage Pharma to enter into an exclusive licence agreement for its tyrosine kinase inhibitor (TKI) olverembatinib. Credit: Michael Vi via Shutterstock. Recommended Buyer's Guides
Source: Pharmaceutical Technology
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Source: Pharmaceutical Technology
Source: Pharmaceutical Technology
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Related Company ProfilesTakeda Pharmaceutical Co LtdView all
Source: Pharmaceutical Technology
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If exercised, the option would allow Takeda to license global rights to develop and commercialise olverembatinib in all territories outside of mainland China, Hong Kong, Macau, Taiwan, and Russia. In exchange, Ascentage will receive a $100m option payment upon signing the exclusive option agreement with Takeda, and a minority equity investment. Ascentage will also be eligible for an option exercise fee, and potential milestone and royalty payments pending regulatory approvals. Source: Pharmaceutical Technology
Source: Pharmaceutical Technology
Under the terms of the agreement, Ascentage will continue to be solely responsible for all clinical development of olverembatinib prior to the potential exercise of the option to license. The asset is currently being investigated in a Phase III POLARIS-2 registrational study (NCT06423911) which plans to enrol 285 patients with CML. Last month, Takeda announced a $900m restructuring plan after its annual profits for FY 2023 were hit by more than 50%. The company shared progress in an earnings call from six late-stage programmes that it says have the potential to generate significant value – one of which include therapies to treat rare blood disorders. Teresa Bitetti, president of the Global Oncology Business Unit at Takeda said: “We are highly encouraged by the promising results olverembatinib has shown in the clinic to date and excited to have the opportunity to potentially further develop and deliver it to patients with chronic myeloid leukaemia and other haematological cancers.” Free ReportHow is the Biopharmaceutical industry evolving?
2021 was a year of continued innovation and change in the Biopharmaceutical industry. As the COVID-19 pandemic continues to take its toll on businesses worldwide, it’s time to look for new ways to create value, prepare for the future, and remain competitive in the ever-changing landscape. GlobalData’s expansive report examines the business environment and trends that shape the Biopharmaceutical industry. We highlight the most impactful emerging technologies, as well as the industry, regulatory, and macroeconomic factors that influence growth prospects.
Benchmark the impact of major themes on the Biopharmaceutical industry.
Gain a deeper "on the ground" perspective through exclusive opinions and analysis from industry respondents.
Evaluate the effects of COVID-19 on the sector. Download the full report to understand what to expect and how to align your strategies for success.
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Source: Pharmaceutical Technology
Antigua & Barbuda (+1268)
Bosnia Herzegovina (+387)
Cape Verde Islands (+238)
Central African Republic (+236)
Dominican Republic (+1809)
Sao Tome & Principe (+239)
Trinidad & Tobago (+1868)
Turks & Caicos Islands (+1649)
United Arab Emirates (+971)
Virgin Islands - British (+1284)
Virgin Islands - US (+1340)
Bonaire, Sint Eustatius and Saba
British Indian Ocean Territory
French Southern Territories
Heard Island and McDonald Islands
Saint Helena, Ascension and Tristan da Cunha
Saint Pierre and Miquelon
Saint Vincent and The Grenadines
South Georgia and The South
US Minor Outlying Islands
-->By downloading this case study, you acknowledge that GlobalData may share your information with GlobalData and that your personal data will be used as described in their Privacy Policy
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Visit our Privacy Policy for more information about our services, how GlobalData may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.