On August 22, 2014 Luye Pharma reported that the Group and Hanmi Pharm on 20 August 2014, are to co-develop Poziotinib, Hanmi’s clinical small molecule inhibitor of Pan-HER, for the treatment of cancer (Press release Luye Pharma Group, AUG 22, 2014, View Source [SID:1234500711]).
Under the terms of the Agreement, the Group is granted with the exclusive rights to develop, manufacture and commercialize Poziotinib in the Group’s name in the People’s Republic of China (‘‘China’’ or ‘‘PRC’’) while Hanmi retains the exclusive rights in all other markets. The Group and Hanmi will communicate fully based on research and development (‘‘R&D’’) data of Poziotinib in/ outside China to accelerate the commercialization of Poziotinib. The Group will run and fund the development, manufacturing and commercialization work in China, and will also make certain payments to Hanmi. The Group will apply for the approval and registration of Poziotinib with the China Food and Drug Administration and any new drug certificate issued will be under the Group’s name.

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