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Ascentage and Innovent Approved to Launch Leukemia Drug in China

publication date: Dec 1, 2021

Ascentage Pharma and Innovent Biologics, two Suzhou biopharmas, announced China approval of olverembatinib for leukemia. Ascentage developed the drug. In July, Innovent acquired shared commercialization rights to olverembatinib in China with Ascentage in a $245 million deal that included a $100 million Innovent investment in Ascentage. Olverembatinib, a potentially best-in-class drug, is China's first third-generation BCL-ABL tyrosine kinase inhibitor developed to treat TKI-resistant chronic myeloid leukemia. More details....

Stock Symbols: (HK: 6855) (HK: 01801)

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