News

YM BioSciences licenses nimotuzumab in Japan

31 July 2006 14:10:00

Cancer product development firm YM BioSciences slipped further today despite licensing development and marketing rights in Japan for its anti-EGFR humanized antibody, nimotuzumab, to Daiichi Pharmaceutical.

Under the agreement, the group's majority owned subsidiary, CIMYM BioSciences, will receive an up-front payment of $14.5m and significant milestone payments.

Daiichi will develop nimotuzumab for the Japanese market in several cancer indications.

"This is an exceptional agreement that provides nimotuzumab with the prospect of accessing the second largest pharmaceutical market in the world," said David Allan, chairman and CEO of YM BioSciences.

"The license will result in a substantial broadening of the development and commercialization efforts directed to our anti-cancer antibody," he added.

In July 2006, nimotuzumab was approved in India for the treatment of head and neck cancer and is currently in a Phase IIl trial in Europe in combination with radiation for the treatment of pediatric pontine glioma.

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