Kazia: Jumps on deal to sell potential brain cancer drug in China

Kazia Therapeutics

29/03/2021 12:21

** U.S.-listed shares of Australian biotech co  KZIA.O  rise
15.5% to $12.85 premarket
    ** Co enters licensing agreement with Chinese firm Simcere
Pharmaceutical Group to develop and commercialize its
investigational brain cancer drug, paxalisib, in Greater China
 urn:newsml:reuters.com:*:nFWN2LO0ZT
    ** Under terms of the deal, KZIA will get an upfront payment
of $11 mln
    ** KZIA retains the rights to development and
commercialization of paxalisib in all other territories
    ** KZIA says paxalisib has shown highly encouraging signals
of clinical efficacy in a mid-stage study in patients newly
diagnosed glioblastoma, a type of brain cancer 
    ** The drug is also being tested in six more studies in
other forms of brain cancer - KZIA
    ** KZIA up ~29% YTD
    

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 80 6749 6132;))