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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Yuhan Corporation will receive about 80.4 billion KRW in technology fees from its licensing agreement with the American biotech company Janssen. This fee pertains to the commercialization of the targeted cancer drug Lazertinib.
On the 11th, Yuhan Corporation announced that it is set to receive 60 million USD (approximately 80.4 billion KRW) for the commercialization milestones of Lazertinib, which has been licensed to Janssen BioTech.
The milestone payment is linked to the commercialization of Lazertinib in combination with Janssen’s dual-targeted antibody, Amivantamab (branded as Rybrevant). The combination therapy has recently commenced in the U.S., and the first patient has been successfully treated with the new regimen.
Earlier, the U.S. Food and Drug Administration (FDA) approved the combination therapy of Lazertinib and Amivantamab as a first-line treatment for metastatic non-small cell lung cancer on August 20th.
Lazertinib is a third-generation EGFR mutation-positive non-small cell lung cancer treatment. Its combination with Amivantamab targets patients with resistance due to EGFR mutations and MET amplification.
The milestone payment amounts to over 2.5% of Yuhan Corporation’s consolidated sales of 1.859 trillion KRW for the previous year. The payment is expected to be received within 60 days.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
