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    Home > Active Ingredient News > Drugs Articles > Henrey and Oncolyse terminate $100 million co-development agreement

    Henrey and Oncolyse terminate $100 million co-development agreement

    • Last Update: 2020-06-17
    • Source: Internet
    • Author: User
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    Pharmaceutical Network Corporate News: June 9, Jiangsu Hengrui Pharmaceutical Co., Ltdannounced that it has agreed with Japan's Oncolys Corporation to terminate the relevant cooperation related to the adenovirus product TelomelysinTM (OBP-301) and signed a termination agreementagreement was concluded on November 30, 2016 between HengRui and Japan's Oncolys, and will be granted a license for the development, production and commercialization of TelomelysinTM (OBP-301), a solution adenovirus product developed by Oncolys, Japan, in Chinese mainland, Hong Kong and The Macao Special Administrative Region, according to the announcementat the time, the transaction was worth more than $100 million, including an advance of $500,000, payable upon effect of this Agreement, a development phase milestone of up to $14.5 million and a sales milestone of up to $8,700, payable in instalments on scheduleIn addition, oBP-301 product sales offer a range of 8% to 14%, and HengRui should pay sales dividends based on the actual sales of the product at the agreed rate during the sales commissionIn addition, Hennessy will pay $1 million in cash to Oncolys for the purchase of the cell line virus, based on the actual purchase scheduleas of the date of the announcement, Hengrui has carried out a preclinical study of the adenovirus product TelomelysinTM (OBP-301) in ChinaWith the termination of this partnership with Japan's Oncolys, Hengrui no longer has the right to license the clinical development, production and commercialization of The ademotic virus product TelomelysinTM (OBP-301) in China and needs to stop the research workit is understood that Oncolys is a biopharmaceutical company listed on the GEM of the Tokyo Stock Exchange in Japan, focusing on the development of innovative biopharmaceuticals in the field of cancer and infectious diseasesThe business consists of two parts, tumor and tumor diagnosis, among which, the oncology treatment business product line includes the adenovirus portfolio, kidney cancer drugs, AIDS and hepatitis B drugsthe telomelysin (OBP-301), which the two sides have decided to develop in collaboration, is oncolyse's main product and is based on the proliferative tumor virusAt present, it has conducted a number of clinical Phase I/II trials for solid tumors in various countries and regions in Asia, including esophageal, melanoma and liver cancerit is understood that companies that want to develop in cooperation with Oncolys have not been in the minority, such as Taiwan Kia Biotech Co., Ltdin 2007 with Oncolys, to jointly develop the new drug, by Kia-led clinical, in South Korea and Taiwan to conduct OBP-301 phase II clinical trials of liver cancer, and in the United States began the clinical phase II of melanoma (the trial program was submitted to the U.S FDA in August 2016) in fact, at the beginning of the cooperation between the two sides, Hengrui has said that OBP-301 is a good complement to HengRui's existing cancer immune product line, will provide HengRui to seek new treatment seeking treatment in the field of cancer, and thus enhance the competitiveness of Hengrui anti-tumor field The decision to terminate the agreement, I do not know whether Heng Rui will have a new layout or action in this area.
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