On February 8, 2018 AskAt Inc. (AskAt), headquartered in Nagoya, Japan, reported a license agreement with NewBay Medical Technology Co., Ltd. (NewBay), headquartered in Hangzhouwan New Zone, Ningbo, Zhejiang Province, People’s Republic of China (China), granting NewBay exclusive rights to develop, manufacture and commercialize AskAt’s EP4 Antagonist [AAT-008] in China in the area of Immuno-Oncology (Press release, AskAt, FEB 8, 2018, View Source [SID1234535052]). Under the terms of the signed agreement, AskAt will receive upfront payments from NewBay and is eligible to receive Development and Commercial Milestone payments and Royalties on sales of products in China.

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About AAT-008

AAT-008 is a novel prostaglandin EP4 antagonist that has exhibited potent anti-tumor activity in animal models of lung, breast, colon, stomach, prostate, and liver cancers, and synergistic activity in combination with anti-PD-1 anti-body.