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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.
According to ASLAN, a Phase I study of ASLAN002 showed it to be safe and well tolerated. Data from the study also showed that “inhibition of RON resulted in potent inhibition of plasma biomarkers of RON activity,” the company said in a press release.
Source: ASLAN Pharmaceuticals