On December 28, 2018 InventisBio (Shanghai) (hereinafter referred to as "InventisBio") reported that it has signed a "Collaboration Agreement" with Betta Pharma (hereinafter referred to as "Betta Pharma") (Press release, InventisBio, DEC 28, 2018, View Source [SID1234532308]). Under this agreement, InventisBio will out-license D-0316’s right in China (including mainland China, Hong Kong and Taiwan) to Betta Pharma and to co-develop this drug in China. Betta Pharma will have the exclusive commercialization rights of D-0316 product in China.

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D-0316 is a third-generation EGFR-T790M tyrosine kinase inhibitor discovered and developed independently by InventisBio. It is mainly used for the treatment of EGFR-mutant non-small cell lung cancer. The drug is currently in phase I clinical trial in China. Betta Pharma will pay upfront and R&D milestones to InventisBio totaling 230 million RMB. After the product is marketed commercially, Betta Pharma will pay various sales milestones and tiered royalties based on annual sales.

Dr. Yaolin Wang, Chairman and CEO of InventisBio, said: "We are excited to work with Betta Pharma, a leader in oncology drug in China. Working together, we will speed up the development and market approval of D-0316 to meet the growing needs of lung cancer patients".

Dr. Lieming Ding, Chairman and CEO of Betta Pharma, said: "We are pleased to work with InventisBio, a leader in oncology drug innovation. The collaboration will broaden the coverage of Betta Pharma’s capabilities in lung cancer treatment."