Zhejiang Hisun Pharma pulls out of ThermoDox deal with Celsion
US cancer drug developer Celsion Corp (Nasdaq: CLSN) says that Zhejiang Hisun Pharmaceutical (SSE: 600267) does not plan to pursue the exclusive option to license ThermoDox, a proprietary heat-activated liposomal encapsulation of doxorubicin, for the Greater China market, which had been granted just last month (The Pharma Letter January 24).
Accordingly, the parties will not enter into the exclusive license agreement, and Celsion will not receive nor will it require any future payment for the option or license, as contemplated in the Exclusive Option Agreement.
The Chinese firm’s decision follows Celsion’s announcement on January 31 that ThermoDox in combination with RFA did not meet the primary endpoint of the HEAT study in patients with hepatocellular carcinoma, or primary liver cancer.
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