Takeda Pharmaceutical Company Limited announced the signing of an option agreement with Ascentage Pharma to enter into an exclusive license agreement for Olverembatinib, an oral, potentially best-in-class, third-generation BCR-ABL tyrosine kinase inhibitor (TKI), which is currently in development for chronic myeloid leukemia (CML) and other hematological cancers. If exercised, the option would allow Takeda to license global rights to develop and commercialize olverembatinib in all territories outside of mainland China, Hong Kong, Macau, Taiwan and Russia. Olverembatinib is currently approved and marketed in China for the treatment of adult patients with TKI-resistant chronic-phase CML (CP-CML) or accelerated-phase CML (AP-CML) harboring the T315I mutation and in adult patients with CP-CML resistant to and/or intolerant of first- and second-generation TKIs.

Under the terms of this agreement, Ascentage Pharma will receive an option payment of $100 million upon signing of the exclusive option to license Olverembatinib, with the exercise of the option being subject to customary regulatory approvals. Additionally, Ascentage Pharma will received a minority equity investment from Takeda.