YM licenses nimotuzumab to Daiichi for $14.5 million

By Elaine Rigoli

Tampa, Fla., July 31 - YM BioSciences, Inc. said its majority-owned subsidiary, Cimym BioSciences, Inc., has licensed development and marketing rights in Japan for nimotuzumab to Daiichi Pharmaceutical Co., Ltd.

Under the agreement, Cimym will receive an up-front payment of $14.5 million and milestone payments at certain stages of development for each of a number of indications as well as payments based on supply of nimotuzumab and sales performance in the territory.

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

In July, nimotuzumab was approved in India for the treatment of head and neck cancer.

Nimotuzumab is in a phase 3 trial in Europe in combination with radiation for the treatment of pediatric pontine glioma. A trial in North America in pediatric pontine glioma is also in design.

Nimotuzumab is being developed in non-small cell lung cancer, pediatric glioma and pancreatic cancer in Canada and Europe and YM is preparing to pursue further clinical development of the drug in adult glioma and colorectal cancer as well as a number of other indications.

YM develops oncology and acute-care products and is located in Mississauga, Ont.

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