Luye In-Licenses China Rights to Cancer Drug from Korea's Hanmi Pharm

Luye Pharma of Yantai, China in-licensed a novel oncology drug candidate from Korea's Hanmi Pharmaceutical. Under the terms of the agreement, Luye will have China rights to develop and sell poziotinib, a pan-HER inhibitor. Hanmi will receive an upfront payment plus development and regulatory milestones that total up to $20 million. According to Hanmi, poziotinib has a novel, oral mechanism that blocks EGFR receptors and may be effective against various forms of cancer. More details.... Stock Symbols: (HK: 2186) (KRX: 128940) Share this with colleagues: // //