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news.YM BioSciences, an oncology company, has announced that its majority-owned subsidiary Cimym BioSciences has received a milestone payment from its licensee Innogene Kalbiotech, a drug development company, in recognition of the recent marketing approval of nimotuzumab in the Philippines and Indonesia.
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Nimotuzumab is currently being advanced in several randomized Phase II and III trials in Japan, Europe and elsewhere and is undergoing an YM-sponsored confirmatory trial in pediatric glioma in Canada and the US.
Innogene Kalbiotech (IGK) is the biotech subsidiary of P T Kalbe Farma Tbk of Jakarta, Indonesia.
David Allan, chairman and CEO of YM BioSciences, said: “With the addition of the Philippines and Indonesia, nimotuzumab has now received marketing approval in 12 countries.
“Demand for novel medicines is growing rapidly in the emerging markets of the world and nimotuzumab is well positioned to become a key cancer therapeutic in these territories due to its unique safety profile compared with the other epidermal growth factor receptor-targeting drugs.”