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Puma Biotechnology and Bixink Therapeutics Enter into Exclusive Licensing Agreement to Commercialize NERLYNX® (neratinib) in South Korea
LOS ANGELES--(BUSINESS WIRE)-- Puma Biotechnology, Inc. (Nasdaq: PBYI), a biopharmaceutical company, and Bixink Therapeutics, a new South Korean company
About this update from Puma Biotechnology Inc
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nPuma Biotechnology, Inc. (Nasdaq: PBYI), a biopharmaceutical company, and Bixink Therapeutics, a new South Korean company working in the field of anti-cancer drugs and digital therapeutics, have entered into an exclusive agreement under which Bixink will commercialize NERLYNX® (neratinib) in South Korea.\n\n\nBixink will be responsible for seeking the requisite regulatory approval and, once approved, for commercializing NERLYNX in South Korea. Under the terms of the agreement, Puma will receive upfront and milestone payments of up to $6 million, as well as significant double-digit royalties on the sales of NERLYNX in South Korea.\n\n\n“Our new agreement with Bixink demonstrates our commitment to bringing NERLYNX to patients around the world while continuing to focus our commercial resources on the U.S. market,” stated Alan H. Auerbach, Chief Executive Officer and President of Puma. “We are excited about the potential to provide South Korean breast cancer patients with access to NERLYNX.”\n\n\n“We are excited about the opportunity to provide NERLYNX to patients with HER2-positive breast cancer in South Korea and plan to file for its market authorization before the end of 2020,” said Dr. Sung Chul Kim, Chief Executive Officer of Bixink Therapeutics. “NERLYNX is our top priority as we aspire to be a leading South Korean company in the field of oncology therapeutics.”\n\n\nNeratinib is approved in the United States for both the extended adjuvant treatment of adult patients with early stage HER2-positive breast cancer following adjuvant trastuzumab-based therapy and HER2-positive metastatic breast cancer and is marketed in the United States as NERLYNX® (neratinib) tablets.\n\n\nAbout HER2-Positive Breast Cancer \n\n\nApproximately 20% to 25% of breast cancer tumors over-express the HER2 protein. HER2-positive breast cancer is often more aggressive than other types of breast cancer, increasing the risk of disease progression and death. Although research has shown that trastuzumab can reduce the risk of early stage HER2-positive breast cancer returning after surgery, up to 25% of patients treated with trastuzumab experience recurrence.\n\n\nIMPORTANT SAFETY INFORMATION \n\n\nNERLYNX® (neratinib) tablets, for oral use\n\n\nINDICATIONS AND USAGE: NERLYNX is a kinase inhibitor indicated:\n\n\n\nAs a single...