BMS reacquires rights to ASLAN002 from Aslan

Aslan Pharmaceuticals Pte. Ltd. (Singapore) said Bristol-Myers Squibb Co. (NYSE:BMY) reacquired rights to develop and commercialize cancer compound ASLAN002 ( BMS-777607) in China, Australia, Korea, Taiwan and other Asian territories. Aslan is to receive $10 million up front and is eligible for more than $50 million in milestones, plus royalties.

BMS granted Aslan rights to ASLAN002 in 2011. The Asian biotech had since completed Phase I testing of the compound in solid tumors. It had designed, but not yet started, Phase II studies in gastric and breast cancer. Aslan CEO Carl Firth said BMS will take over responsibility for the planned Phase II studies. ...