Total of $7 million in milestone payments and royalty payments at double digit rates
Hangzhou, China/New York, NY – July 15, 2020 – AnHeart Therapeutics, Co., Ltd. (“AnHeart”), a clinical stage oncology company focused on underserved patients in global markets, today announced that it has, through its subsidiary AnHeart Therapeutics Inc., outlicensed clinical development and commercialization rights to its next-generation ROS1/NTRK inhibitor, taletrectinib, to NewG Lab Co., Ltd. in the Republic of Korea (Korea) market.
As part of the deal, AnHeart will receive $7 million in total milestone payments and royalty payments at double digit rates. NewG Lab will be responsible for development, market authorization and commercialization activities for taletrectinib in Korea. AnHeart will allow NewG Lab to join its Phase 2 multi-regional clinical trial (MRCT) for non-small cell lung cancer (NSCLC) with ROS1/NTRK mutations. Taletrectinib was initially developed by Daiichi Sankyo Company, Limited and was later acquired by AnHeart. Taletrectinib has already been evaluated for safety and efficacy in two Phase 1 clinical trials in Japan and the U.S. and is currently in Phase 2 trials (NCT04395677).
“We are extremely pleased to be collaborating with NewG Lab to develop and launch taletrectinib in Korea. This deal further strengthens our balance sheet and supports the global development of taletrectinib for first-and second-line NSCLC patients with ROS1/NTRK mutations,” said Dr. Junyuan (Jerry) Wang, Chief Executive Officer and Co-Founder of AnHeart. “We will remain opportunistic in pursuing other regional partnerships as we work to further develop taletrectinib and expand our pipeline.”
The lead clinical candidate taletrectinib is a next-generation novel, potent, highly selective ROS1 and NTRK inhibitor that can cross the blood-brain barrier. AnHeart licensed the global rights to taletrectinib from Daiichi Sankyo Company Limited (“DS”). Two Phase 1 studies in the U.S. and Japan have been completed with promising safety and efficacy data. Taletrectinib inhibits both ROS1 WT and major crizotinib-resistant mutations, including G2032R. There is no effective drug approved against resistant mutations like G2032R, which may lead to rapid penetration in major global markets.
AnHeart Therapeutics Co., Ltd. (AnHeart”) is a clinical stage biopharmaceutical company developing novel oncology therapies. AnHeart is headquartered in Hangzhou, China with offices in Beijing, Shanghai and New York. Formed in November 2018, AnHeart is currently managed by biopharmaceuticals industry veterans (Pfizer, BMS, Merck, J&J, Novartis) and financially backed by a venture capital fund.
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Akira Jing Liu, MD
Director of Business Development
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