BRIEF—Medigen out-licenses liver cancer candidate

Taiwan-based Medigen Biotechnology has licensed PI-88 (muparfostat) - a candidate for liver cancer in early stage development - to its Beijing-based joint venture Ji Ya Cell for 50 million new Taiwan dollars ($7.1 million).

Through the deal, Ji Ya will gain the global right (excluding Taiwan) for PI-88's R&D and commercialization, while Medigen will receive an upfront payment, as well as development milestones and royalties on sales.

According to Medigen, PI-88 is a mixture of oligosaccharides derived from yeast targeting VEGF, FGF-1 and FGF-2.

It is about to enter Phase III international multicenter studies as an adjuvant therapy.