Takeda Signs Option to Market Ascentage’s Blood-Cancer Drug
- Ascentage would get $100 million for the licensing deal
- Olverembatinib is for treatment of rare bone-marrow cancer
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Takeda Pharmaceutical Co. signed an option agreement with Chinese drug developer Ascentage Pharma Group International for the development of a blood-cancer drug, as the Japanese drug maker attempts to revive its drug pipeline and boost growth.
Takeda will have the option to exclusive marketing for Olverembatinib outside of mainland China, Hong Kong, Macau, Taiwan and Russia, the Japanese company said in statement on Friday. The drug, under development, is designed to treat a rare form of bone-marrow cancer called chronic myeloid leukemia and other blood cancers.