After EMA flop, Puma takes Nerlynx to China in new out-licensing deal
Facing a likely roadblock entering the European market, Puma Biotechnology $PBYI is inking a string of new deals in different regions for its cancer drug Nerlynx. Latest target: China.
Puma is buddying up on the deal with CANbridge Life Sciences, which will develop and commercialize the drug in mainland China, Taiwan, Hong Kong, and Macau. Puma gets a $30 million upfront payment, and biobucks of up to $40 million if certain regulatory milestones are met. Puma could also get double-digit royalties on sales, and extra milestones based on sales.
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