As announced by the news app Zhitong Finance, Yasheng Pharmaceutical-B (06855) has released a statement regarding the exclusive option agreement between the company, Hong Kong Yasheng, Guangzhou Yasheng, Suzhou Yasheng, and Takeda Pharmaceuticals International AG ("Takeda").
As disclosed in the statement, the exclusive option agreement granted Takeda the exclusive option to enter into an exclusive license agreement for HQP1351 (Orelabutinib), an oral, potentially best-in-class third-generation BCR-ABL TKI, currently being developed for the treatment of CML and other blood cancers. The exclusive option agreement allows Yasheng to receive a selection payment of USD 0.1 billion ("the Selection Payment"), and if Takeda exercises the option to license HQP1351, Yasheng is eligible to receive up to approximately USD 1.2 billion in option exercise fees and additional potential milestone payments, as well as a double-digit percentage of annual sales as sales royalties.
The board of directors is pleased to announce that Yasheng has received the Selection Payment allowed under the terms of the exclusive option agreement on July 2, 2024.