Lilly acquires rights to Hutchison MediPharma cancer drug candidate
Hutchison MediPharma (HMP), an R&D company majority owned by China’s Chi-Med, has entered into a licensing, co-development, and commercialization agreement in China with US pharma major Eli Lilly (NYSE: LLY) for fruquintinib (HMPL-013).
Fruquintinib, a selective inhibitor of the vascular endothelial growth factor (VEGF) receptor tyrosine kinases, was discovered by HMP and is currently in Phase II testing in China. It is a targeted oncology therapy for the potential treatment of various types of solid tumors.
HMP eligible for up to $86.5 million
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