On March 23, 2015 Bristol-Myers Squibb Company (NYSE: BMY) and ZAI Lab Limited (ZAI Lab), a leading innovative biotech company based in China, reported that the companies have signed a definitive agreement under which ZAI Lab will acquire exclusive rights in China (including Hong Kong and Macau) to develop, manufacture and commercialize brivanib, an orally available kinase inhibitor in Phase 3 development for oncology indications including hepatocellular carcinoma (HCC).
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ZAI Lab will be responsible for developing, manufacturing and commercializing brivanib in China. Bristol-Myers Squibb will be eligible to receive developmentbased milestone payments and tiered royalties from the commercial sales of brivanib in China, if brivanib is approved for marketing by Chinese authorities. Bristol-Myers Squibb also will have the option to co-promote brivanib in China with ZAI Lab and share commercial profits. Bristol-Myers Squibb retains all development and commercialization rights to brivanib outside of China, Macau and Hong Kong. Additional terms were not disclosed.
"HCC is the most common form of primary liver cancer and patients with intermediate-stage HCC typically live only 20 months after diagnosis on average," said Karl Lintel, president, Bristol-Myers Squibb China. "We are pleased to partner with ZAI Lab to further investigate brivanib as a potential treatment for patients living with HCC in China. Earlier studies of brivanib in this patient population suggest brivanib may be an effective therapy, prolonging time to progression to advanced disease for patients who have no other effective treatment options."
Samantha Du, Ph.D., founder and CEO of ZAI Lab said: "We are very excited about this agreement. Brivanib has already been tested in multiple global Phase 3 studies with a large number of Chinese HCC patients participating in the trials. Encouraging
efficacy data have been observed among the Chinese HCC patients with an acceptable safety profile. China accounts for more than 50% of global annual incidence of liver cancer, with more than 400,000 new cases and 371,000 deaths in 2012. Based on the
preliminary analysis of the extensive Phase 3 data, brivanib may offer a new treatment option for Chinese HCC patients."