On July 31, 2015 ZAI Lab Limited (ZAI Lab), an innovative biotech company based in China reported that it has entered into a global licensing agreement with Sanofi for a novel multi-kinase inhibitor for the potential treatment of non-small cell lung cancer and other oncology indications (Press release, Zai Laboratory, JUL 31, 2015, View Source [SID:SID1234515698]).

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Under the terms of the agreement, ZAI Lab will be responsible for global development, manufacturing and commercialization of this novel product. Sanofi will potentially receive development and regulatory approval milestones and tiered royalties from the global net sales of the licensed product. Additional terms of the agreement were not disclosed.

Dr. Samantha Du, founder and CEO of ZAI Lab said: "NSCLC is a serious disease with large patient population and unmet medical needs in the world, especially in China. We are very excited to partner with Sanofi on this innovative program that may significantly improve patients’ survival outlook and quality of life."