Nuvectis gains two experimental drugs in licensing deal with China's Haisco

AstraZeneca

Yesterday 13:32

June 22 (Reuters) - Nuvectis Pharma NVCT.O said on Monday it had licensed exclusive rights outside China to two experimental drugs from Haisco Pharmaceutical Group 002653.SZ, targeting complement-mediated diseases and cancer to broaden its pipeline.
Shares of Nuvectis rose about 5% in premarket trading following the news. 

Here are some details of the deal:

Nuvectis has secured exclusive rights outside China to NXP100, an experimental once-daily oral drug for immune-related diseases, and NXP200, which is a cancer treatment targeting a type of mutation called BRAF. 
China's Haisco will receive upfront and near-term payments totaling up to $40 million and is eligible to receive up to $1.42 billion in additional milestone payments, as well as tiered royalties on future net sales. 
NXP100 is under regulatory review in China for paroxysmal nocturnal hemoglobinuria, a rare disorder where red blood cells break down, after studies showed higher hemoglobin levels and reduced need for transfusions compared with AstraZeneca's AZN.L Soliris.
Nuvectis said the drug is in late-stage development for IgA nephropathy, a kidney disease caused by immune deposits, following positive mid-stage data showing reduced protein in urine.
The company said NXP200 is designed to treat cancers driven by changes in the BRAF gene, which help tumors grow, including lung, colorectal and brain tumors, while avoiding resistance seen with older therapies.
Early data showed durable responses across several tumor types, including brain cancers, Nuvectis said.
The company added that NXP200 is in an early-stage study in China, with a newer version showing improved drug exposure.
Haisco will retain rights in China and some Asian markets as the companies work to advance the programs globally. 

 (Reporting by Sahil Pandey in Bengaluru; Editing by Shreya Biswas)
 ((Sahil.Pandey@thomsonreuters.com;))