SHANGHAI, April 9 (Reuters) – Cambridge, Massachusetts-based oncology drugmaker Boston Oncology CGT Holding will license Xuanzhu Biopharmaceutical’s breast cancer treatment Bireociclib and lung cancer treatment Dirozalkib, making payments exceeding $100 million if milestones are met, the Chinese drugmaker said Thursday.
Both drugs are approved in China. The deal’s execution “is an important strategic initiative for the Group in its global market expansion,” Xuanzhu said in a filing to the Hong Kong stock exchange.
Under the agreement with Boston Oncology, it is eligible to receive an upfront payment and more tied to regulatory and sales-related milestones, plus additional royalties based on sales.
The agreement covers the development, registration, commercialization, and supply of the two medicines. Boston Oncology has been granted a licence in 21 countries and regions in the Middle East and North Africa.
(Reporting by Andrew Silver; Editing by Kim Coghill)
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