Hanmi Pharmaceutical (KRX:128940) and Genentech terminated a licensing agreement for the cancer drug belvarafenib (HM95573), with Genentech returning the rights to the drug candidate, according to a Tuesday filing.

The agreement, signed in September 2016, will terminate 90 days after the Sept. 29 notice.

Hanmi Pharmaceutical will retain the $80 million upfront payment previously received from Genentech.

The companies will work together to transfer responsibilities and rights for belvarafenib through the Dec. 27 termination date, it said.