TOKYO (dpa-AFX) - Takeda Pharmaceutical Co. Ltd. (TAK) announced on Friday
that they have signed an option agreement with Ascentage Pharma for the
exclusive license agreement of Olverembatinib.

This agreement will allow Takeda to develop and commercialize Olverembatinib in
all territories except mainland China, Hong Kong, Macau, Taiwan, and Russia.

Olverembatinib is a third-generation BCR-ABL tyrosine kinase inhibitor that can
be taken orally. It is currently approved and available in the Chinese market
for treating adult patients with TKI-resistant chronic-phase chronic myeloid
leukemia or accelerated-phase CML with the T315I mutation.

Under the terms of the agreement, Ascentage will be solely responsible for all
clinical development activities related to Olverembatinib until Takeda decides
to exercise the option to license it.

If Takeda decides to license Olverembatinib, Ascentage will get a $100 million
option payment upon signing. It is also eligible for further milestone and
royalty payments, pending standard regulatory approvals, and will receive a
minority equity stake from Takeda.



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