Hutchmed Gets $15Mln Milestone Payment From AstraZeneca For Phase III Trial Of Orpathys

HUTCHMED (China) Limited (HCM), said on Monday that it has obtained a milestone payment of $15 million from AstraZeneca Plc (AZN) under a global licensing and collaboration agreement that was signed in 2011 by the two companies to jointly develop and commercialize Savolitinib.

Savolitinib is marketed in China under the brand name ORPATHYS for the treatment of patients with non-small cell lung cancer with MET exon 14 skipping alterations who have progressed following prior systemic therapy or are unable to receive chemotherapy.

The $15 million milestone has been triggered by the initiation of start-up activities for a global phase III trial dubbed SAFFRON.

The SAFFRON trial, which is expected to commence enrolling patients in mid-2022, will evaluate ORPATHYS in combination with AstraZeneca's blockbuster cancer drug TAGRISSO in epidermal growth factor receptor ("EGFR")-mutated non-small cell lung cancer patients with mesenchymal epithelial transition receptor ("MET") driven tumors following progression after TAGRISSO.

HUTCHMED has so far earned $85 million of the total $140 million in upfront payments, development, and first-sale milestones due under the license and collaboration deal signed with AstraZeneca.

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