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Kyowa Hakko And Aussie Firm Arana To Co-Develop Anti-Cancer Drug

This article was originally published in PharmAsia News

Executive Summary

Japanese biotech firm Kyowa Hakko announced April 24 an agreement with the Australian firm Arana Therapeutic to co-develop a new anti-cancer drug ART104 for colorectal cancer. Kyowa Hakko plans to use its own antibody technologies to enhance drug candidate, which the companies hope enters the clinical trial phase by 2010. Arana will receive a one time payment of $4 million and up to $4 million in milestone payments. Kyowa Hakko has an option to develop and commercialize the product in some Asian markets such as Japan, South Korea, Taiwan and China. Arana will receive royalties on these sales. (Click here for more - Japanese language

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