Ningbo Tai Kang Medical Technology Co Ltd Announces Global Licensing Agreement With AstraZeneca

Ningbo Tai Kang Medical Technology Co. Ltd. announced today that it has entered into a licensing agreement with AstraZeneca. Tai Kang has been granted the exclusive global rights to further develop and commercialize AZD3229, a small molecule KIT inhibitor that is active against primary, secondary and resistant KIT and PDGFRα mutations observed in gastrointestinal stromal tumor (GIST). The broad inhibitory activity over a spectrum of KIT and PDGFRα mutations and biochemical selectivity differentiate AZD3229 from other agents used in GIST treatment.

Susan Galbraith, Senior Vice President and Head of Research and Early Development, Oncology R&D, AstraZeneca, said: “GIST represents a significant unmet medical need. Through this agreement, the development of AZD3229, a small molecule that inhibits KIT, can be accelerated with the aim of bringing a new treatment to patients faster.”

“We are very pleased to enter this global exclusive license agreement with AstraZeneca and look forward to working with medical experts and global regulatory agents to advance this promising investigational medicine,” commented Dr. Zhenhai Shen, Tai Kang’s authorized representative.

Under the agreement, AstraZeneca will receive an upfront payment and milestone-based payments linked to clinical, regulatory and commercial successes, as well as royalty payments.-Business Wire