Astra Clinches Deal for China Drug to Boost Cancer Pipeline (2)

AstraZeneca Plcstruck an exclusivelicensing deal with Chinese biotech KYM Biosciences Inc., giving the UK pharma giant the rights to develop and sell an experimental cancer drug worldwide.

Astra will pay KYM Biosciences $63 million upfront, with the potential for as much as $1.1 billion if the medicine, called CMG901, meets certain developmental, regulatory and commercial milestones. For now, it’s in early clinical trials.

Astra aims to become the world’s leader in cancer medicines, with results on a crucial lung drug that’s a potential multi-billion dollar blockbuster expected soon. Chief Executive Officer Pascal Soriot has said he views China ...