Ascentage Pharma secures $100M from Takeda for innovative cancer drug

Ascentage Pharma, a prominent global biopharmaceutical company, has recently secured a significant $100 million option payment from Takeda under an Exclusive Option Agreement for their innovative third-generation BCR-ABL inhibitor, olverembatinib. This collaboration also entails the possibility of milestone payments amounting to $1.2 billion and double-digit royalties based on annual sales.

Specializing in developing therapies for hematological malignancies, Ascentage Pharma, a listed entity on the Main Board of the Stock Exchange of Hong Kong, boasts a diverse pipeline of clinical-stage drug candidates that target various pathways.

Olverembatinib, the flagship asset of Ascentage Pharma designed to combat drug-resistant chronic myeloid leukemia, has garnered regulatory approvals in both China and the US. The company's unwavering commitment to research and development is evident through its strategic partnerships with leading biotechnology and pharmaceutical firms.

With a steadfast dedication to enhancing its research and development capabilities to cater to unmet medical needs worldwide, Ascentage Pharma acknowledges the possibility of future outcomes differing from current projections. The company remains resolute in adapting its strategies as necessary to stay at the forefront of medical innovation.

Ascentage Pharma's recent collaboration with Takeda and the advancements in olverembatinib signify a significant stride in the field of oncology. With a strong emphasis on research and development, Ascentage Pharma is poised to make substantial contributions to the global healthcare landscape, offering hope to patients battling hematological malignancies.