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Hutchison MediPharma Signs $140 Million Cancer Deal with AstraZeneca

Dec. 20, 2011

AstraZeneca and Hutchison MediPharma Limited, announced on December 21, 2011 that they have entered into a global licensing, co-development, and commercialization agreement for Volitinib (HMPL-504), a novel targeted therapy and a highly selective inhibitor of the c-Met receptor tyrosine kinase for the treatment of cancer. Volitinib, which will imminently enter Phase I testing, has been discovered and developed in China by Hutchison Medipharma. AstraZeneca made a $20 million upfront payment, and the agreement calls for up to $120 million in milestones as well as royalties on future sales.