Feb. 1, 2018
Puma Biotechnology, a biopharmaceutical company, and CANbridge Life Sciences, a biopharmaceutical company focused on developing Western drug candidates in China and North Asia, have entered into an exclusive agreement under which CANbridge will develop and commercialize NERLYNX® (neratinib) in mainland China, Taiwan, Hong Kong, and Macau.
NERLYNX is not currently approved for commercialization outside of the United States and CANbridge will be responsible for seeking the requisite regulatory approval to commercialize NERLYNX in the licensed territories.
Puma will receive an upfront payment of $30 million and potential milestone payments totaling up to $40 million upon achievement of certain regulatory milestones. In addition, Puma will receive significant double-digit royalties on NERLYNX sales in greater China and potential milestone payments upon the achievement of certain sales-based milestones.