Lilly Halts Hanmi BTK Inhibitor Trial For RA, Mulls Other Indications
Hanmi Pharmaceutical shares fell sharply on the news Lilly has halted Phase II trials of the South Korean firm’s BTK inhibitor for rheumatoid arthritis. But Hanmi says its license contract remains intact and that the two firms are discussing the potential development of the molecule for other indications.
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Rolontis, a novel, long-acting granulocyte colony-stimulating factor (G-CSF) licensed out to Spectrum Pharmaceuticals, has become Hanmi Pharmaceuticals' first drug developed with its proprietary platform to approach the regulatory filings stage in global markets.
Hanmi shares have gone on a wild roller coaster ride as bad news came after good. A day after it announced a huge licensing agreement with Genentech, the South Korean firm unveiled that Boehringer Ingelheim had decided to return rights to olmutinib, the EGFR inhibitor it licensed from Hanmi last July.
Lilly is building out its autoimmune pipeline through a licensing deal with Hanmi that could be worth $690 million to the Korean firm and is indicative of the growing attractiveness of innovation in the Asian country.