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BMS will reacquire the rights to ASLAN002 (BMS777607) from ASLAN Pharmaceuticals in China, Australia, Korea, Taiwan, and other Asian territories.
On August 10, 2016, ASLAN Pharmaceuticals announced that Bristol-Myers Squibb (BMS) is reacquiring the rights to ASLAN002 in China, Australia, Korea, Taiwan, and other Asian territories. ASLAN in-licensed ASLAN002, a small-molecule dual inhibitor of the cMET receptor tyrosine kinase and RON immune checkpoint, in these markets from BMS in November 2011.
ASLAN will receive an upfront payment of $10 million. The company is also eligible to receive development and regulatory milestones in excess of $50 million and future royalty payments on worldwide sales. BMS will resume responsibility for all development and commercialization activities and expenses.