Yuhan Terminates Licensing Deal with Chinese Partner for its Lung Cancer Drug

Yuhan Corp., a South Korean leading pharmaceutical company, said Wednesday it has terminated a license agreement with China’s Luoxin Biotechnology Co. signed in July for the development of YH25448, Yuhan’s investigational lung cancer drug.

The termination was due to non-fulfillment of Luoxin’s obligations, the Korean drugmaker said, adding the Chinese partner was not sincere in pursuing final agreement terms and only demanding technical information of the drug one-sidedly.

Yuhan would have received a milestone payment and royalties on sales of $120 million from Luoxin in addition to an upfront payment of about $6 million.

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