BI, Hanmi Form $730 M Licensing Pact for Lung Cancer Drug
Boehringer Ingelheim and Hanmi Pharmaceutical Co. Ltd., a Korean pharmaceutical company, have formed an exclusive license and collaboration agreement for the development and global commercialization rights, except South Korea, China and Hong Kong, of HM61713, an EGFR targeted therapy for the treatment of EGFR-mutation positive lung cancer in a deal potentially valued up to $730 million.
Under the agreement Hanmi will receive an initial payment of $50 million and is entitled to potential milestone payments of $680 million plus tiered double-digit royalties on future net sales. The agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, similar requirements outside the US, and other customary closing conditions.
HM61713 is a oral EGFR mutation selective tyrosine kinase inhibitor (TKI) and would fit into Boehringer Ingelheim’s obal lung cancer franchise.
Source: Boehringer Ingelheim