Bristol-Myers Squibb and ZAI Lab have signed a definitive agreement under which ZAI Lab will acquire exclusive rights in China (including Hong Kong and Macau) to develop, manufacture and commercialize brivanib, an orally available kinase inhibitor in Phase 3 development for oncology indications including hepatocellular carcinoma (HCC).
ZAI Lab will be responsible for developing, manufacturing and commercializing brivanib in China.
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Bristol-Myers Squibb will be eligible to receive development based milestone payments and tiered royalties from the commercial sales of brivanib in China, if brivanib is approved for marketing by Chinese authorities.
Bristol-Myers Squibb also will have the option to co-promote brivanib in China with ZAI Lab and share commercial profits.
Bristol-Myers Squibb retains all development and commercialization rights to brivanib outside of China, Macau and Hong Kong.
Additional terms were not disclosed.
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