Epizyme strikes deal with Hutchmed for Tazverik in Greater China
USA-based cancer specialist Epizyme (Nasdaq: EPZM) today announced a collaboration with Chinese biotech Hutchmed (Nasdaq: HCM) to research, develop, manufacture and commercialize Tazverik (tazemetostat) in Greater China, including mainland China, Hong Kong, Macau and Taiwan (the Territory).
However, while Epizyme’s shares gained 15.6% to $7.48 pre-market, they were down 6.8% at $6.03 by late morning when the company also announced second-quarter financials that failed to impress, as well as a chief executive succession plan, with industry veteran Grant Bogle (who joined the firm’s board in 2019) succeeding Robert Bazemore as president and CEO.
Tazverik is a methyltransferase inhibitor of EZH2 developed by Epizyme that is approved by the US Food and Drug Administration for the treatment of certain patients with epithelioid sarcoma (ES) and certain patients with follicular lymphoma (FL).
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