jetcityimage/iStock Editorial via Getty Images Takeda ( NYSE: TAK ) announced Friday it reached an agreement with Chinese biotech Ascentage Pharma to receive an option to exclusively license the latter’s blood cancer therapy, olverembatinib, globally. Olverembatinib, a tyrosine kinase inhibitor (TKI), is already approved and marketed in China for certain types of chronic myeloid leukemia. As part of the deal, Takeda ( TAK ) will receive an option that, if exercised, would allow it to license global rights to develop and commercialize olverembatinib in regions outside mainland China, Hong Kong, Macau, Taiwan, and Russia.
In exchange, Ascentage will receive a minority equity investment from the Japanese pharma giant in addition to an upfront option payment of $100M. The company is also entitled to an additional option exercise fee and potential milestone and royalty payments. Olverembatinib, a drug with the U.
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