12:47 PM
 | 
Jul 10, 2018
 |  BC Extra  |  Company News

Adlai Nortye gets rights to Novartis' buparlisib

Chinese immunotherapy company Adlai Nortye Biopharma Co. Ltd. (Hangzhou, China) gained exclusive, worldwide rights to cancer candidate buparlisib (BKM120) from Novartis AG (NYSE:NVS; SIX:NOVN). Financial terms were not disclosed.

Adlai Nortye has global rights to develop and commercialize buparlisib, except for "certain limited rights" Novartis retained "to comply with ongoing contractual obligations," Novartis spokesperson Eric Althoff told BioCentury. Althoff declined to provide details.

Buparlisib is an oral phosphoinositide 3-kinase (PI3K) inhibitor. According to ClinicalTrials.gov, the candidate has completed Phase II/III testing to treat breast cancer and is in multiple earlier phase trials for other tumor types and lymphomas. Buparlisib has Fast Track designation to treat squamous cell carcinoma of the head and neck (SCCHN).

Adlai Nortye said it plans to begin clinical trials of buparlisib in combination with immune checkpoint inhibitors.

Last month, Adlai Nortye raised over $50 million in a series B round led by YuanMing Capital (see "Adlai Nortye Raises $50M in Series B").

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