A subsidiary of Canada's YM BioSciences has licensed the Japanese development and marketing rights to its anti-EGFR humanized antibody, nimotuzumab, to Daiichi Pharmaceutical. Daiichi has agreed to pay $14.5 million up front and "significant milestone payments." Nimotuzumab was recently approved in India for head and neck cancer and is in Phase III in Europe in combination with radiation for the treatment of pediatric pontine glioma. "The license will result in a substantial broadening of the development and commercialization efforts directed to our anti-cancer antibody," said David Allan, chairman & CEO of YM BioSciences.
- check out the release on the deal