Cambridge, Massachusetts-based oncology drugmaker Boston Oncology CGT Holding will license Xuanzhu Biopharmaceutical’s (2575.HK), 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.
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Under the agreement with Boston Oncology, the company is entitled to receive an upfront payment, along with additional payments tied to regulatory approvals and sales milestones, as well as ongoing royalties based on product sales.
The deal includes the development, registration, commercialization, and supply of the two medicines, with Boston Oncology securing licensing rights across 21 countries and regions in the Middle East and North Africa.
