AsianScientist (Aug. 15, 2016) – Bristol-Myers Squibb will be reacquiring the rights to ASLAN002, a gastric and breast cancer drug made by Singapore-headquartered biotech company ASLAN Pharmaceuticals. These rights extend to China, Australia, Korea, Taiwan and other Asian territories.
ASLAN in-licensed ASLAN002, a potent small-molecule dual inhibitor, in the above-mentioned markets from Bristol-Myers Squibb in November 2011. Since then, ASLAN has successfully completed a Phase I trial in which ASLAN002 was shown to be safe and well-tolerated, according to a statement from the company.
ASLAN will receive an upfront payment of US$10 million and is eligible to receive development and regulatory milestones in excess of US$50 million. In addition, ASLAN is eligible to receive royalty payments on future worldwide sales of ASLAN002.
Bristol-Myers Squibb resumes responsibility for all development and commercialization activities and expenses.
Source: ASLAN Pharmaceuticals.
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