Bristol-Myers Squibb has reacquired the rights to the anti-cancer drug candidate, ASLAN002, in China, Australia, Korea, Taiwan, and other Asian territories from Aslan Pharmaceuticals, a Singapore-based biotechnology company focused on the development of immunotherapies. ASLAN002 is a small-molecule dual inhibitor anti-cancer drug candidate that Aslan in-licensed in these markets from Bristol-Myers Squibb in November 2011.

Aslan will receive an upfront payment of $10 million and is eligible to receive development and regulatory milestones in excess of $50 million. In addition, the company is eligible to receive royalty payments on future worldwide sales of ASLAN002. BMS resumes responsibility for all development and commercialization activities and expenses.

ASLAN002 targets RON, an immune-checkpoint inhibitor, and cMET, also known as hepatocyte growth factor receptor.

Source: Aslan Pharmaceuticals