Japanese firm Daiichi Pharmaceutical Co. has acquired development and marketing rights to CIMYM BioSciences Inc.'s nimotuzumab, an anti-EGFR humanized antibody, for an upfront fee of $US14.5 million, plus milestone payments and royalities.
In July 2006, nimotuzumab was approved in India for the treatment of head and neck cancer. It is also under development in Europe and North America for the treatment of pediatric pontine glioma, adult glioma, non-small cell lung cancer, pancreatic cancer, colorectal cancer as well as a number of other indications.
CIMYM and Daiichi Pharmaceutical are subsidiaries of YM BioSciences (YMI) and Daiichi Sankyo Co, Ltd (4568/T), respectively.
Source: PR Newswire
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