Chugai Pharmaceutical Co. Ltd. and Debiopharm Group(TM) announced that on December 17, 2012, they entered into a licensing agreement regarding FF284 (called Debio 1347 by Debiopharm) discovered by Chugai and which is about to start clinical development in oncology. Under this license agreement, Chugai will grant Debiopharm an exclusive license to develop and commercialize FF284 (Debio 1347) in all countries worldwide including Japan.

Under the same agreement, Chugai will grant a non-exclusive license to develop and commercialize a companion diagnostic for FF284 (Debio 1347). According to the terms of the license, Debiopharm and Chugai will collaborate to conduct a Phase I dose escalation study. In return for the license, Chugai will receive an upfront fee, milestone and royalty payments from Debiopharm.