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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