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Alembic Pharma arm, Curon join hands for cancer drug Tenalisib in Greater China
Alembic Pharma said Curon obtains the exclusive development and commercialisation rights of Tenalisib for Greater China across all oncology indications.
New Delhi: Drug firm Alembic Pharma on Tuesday said its associate company, Rhizen Pharmaceuticals, has entered an exclusive license agreement with Curon Biopharmaceutical for development and commercialisation of Tenalisib, used in treatment of cancer, in Greater China.
According to a regulatory filing, Rhizen Pharmaceuticals is a Switzerland-based privately-held clinical-stage biopharmaceutical company, and Curon Biopharmaceutical is a clinical-stage innovative biopharmaceutical company with facility in Shanghai.
Under the terms of the agreement, Rhizen will receive an undisclosed upfront cash payment and is eligible to receive additional development and commercial milestone payments with an overall deal value of USD 149.5 million (approx Rs 1,047 crore) plus double-digit royalties on annual net sales of Tenalisib, Alembic Pharma said in the filing.
Alembic Pharma said Curon obtains the exclusive development and commercialisation rights of Tenalisib for Greater China across all oncology indications.
Read also: Alembic Pharma gets USFDA nod to diabetes drugs Empagliflozin, Linagliptin
It will lead the clinical development in that territory by leveraging its expertise in translational research, clinical development and regulatory registration and its extensive research collaboration experience, to accelerate the development of and regulatory approval of this product in Greater China, Alembic Pharma added.
Alembic Pharmaceuticals, through its wholly-owned subsidiary, holds 50 percent ownership in Rhizen.
Read also: Alembic Pharma secures USFDA nod for Treprostinil Injection to treat pulmonary arterial hypertension
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751