Hanmi Pharm, Genentech End Licensing Deal for Cancer Drug
MT Newswires Live
Sep 30
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.
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