MENLO PARK, Calif.--(BUSINESS WIRE)--NewGen Therapeutics, Inc. today announced the acquisition of three novel oncology development programs from Kanion USA, Inc. (Hayward, CA) and Kanion Pharmaceutical Co., Ltd. (Lianyungang, China).
Under an agreement between the companies, NewGen has received exclusive global rights, excluding China, for the development, manufacture and commercialization of three separate small molecule therapeutic programs targeting pan-ErbB, EGFR/Her-2, and PARP, respectively. NewGen intends to continue pre-clinical development of the oral lead molecules currently identified within each program, and seek partners for their clinical development and marketing. In return, Kanion Pharmaceutical has taken a minority equity position in privately financed NewGen, and will continue development of the compounds for China markets. The two companies also plan to share data on the compounds’ development. Further financial details were not disclosed.
