Luye In-Licenses China Rights To Cancer Drug From Korea's Hanmi Pharmaceutical, Co., Ltd

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.

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