InventisBio (Shanghai) has agreed to out-license the rights of its EGFR-T790M tyrosine kinase inhibitor D-0316 in China, Hong Kong and Taiwan to Betta Pharma, in a deal worth more than RMB230 million ($33.44 million).
The two Chinese pharma companies have forged a partnership to co-develop the drug in China.
D-0316, which was discovered by InventisBio, is being developed as a potential treatment of EGFR-mutant non-small cell lung cancer. Currently, the investigational lung cancer drug is in a phase 1 clinical trial in China.
Dr. Yaolin Wang – Chairman and CEO of InventisBio, said: “We are excited to work with Betta Pharma, a leader in oncology drug in China. Working together, we will speed up the development and market approval of D-0316 to meet the growing needs of lung cancer patients.”
As per the terms, Betta Pharma will pay upfront and R&D milestones to InventisBio amounting to RMB230 million. After the drug is marketed commercially, Betta Pharma will pay InventisBio various sales milestones and tiered royalties depending on annual sales.
Dr. Lieming Ding – Chairman and CEO of Betta Pharma, said: “We are pleased to work with InventisBio, a leader in oncology drug innovation. The collaboration will broaden the coverage of Betta Pharma’s capabilities in lung cancer treatment.”