Boehringer Ingelheim has decided to return the exclusive license of Olmutinib, a lung cancer treatment candidate, back to Korea-based Hanmi Pharma.
In July 2015, Boehringer signed an exclusive license agreement with Hanmi Pharm to develop a third-generation EGFR drug to treat EGFR mutation positive lung cancer. The $730 million deal included a $50 million upfront fee paid to Hanmi, plus milestones up to $680 million.
According to news sources, Boehringer Ingelheim halted trials and decided that Olmutinib could not compete with its rival AstraZeneca’s Tagrisso. According to reporting from PharmaLive, Hanmi indicated in a filing that Boehringer Ingelheim ended the deal after two patients died because of a serious skin reaction.
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