Warminster-based Arbutus Biopharma has ended a 4-year licensing deal worth up to $285 million with Qilu Pharmaceuticals, a Chinese drugmaker, writes John George for the Philadelphia Business Journal.
The deal granted Qilu rights to imdusiran, an experimental therapy Arbutus is developing as a potential cure for chronic hepatitis B. These rights cover mainland China, Hong Kong, Macau and Taiwan, pending regulatory approval in each region.
Qilu made an upfront payment of $40 million to Arbutus. With the deal terminated, the Bucks County company will lose out on most of the additional $245 million tied to product development and commercialization milestones.
The termination of the agreement did not involve any fees. All rights to the experimental drug in Greater China reverted to Arbutus.
According to the two companies, they agreed to end the agreement “in light of Qilu’s pipeline reprioritization efforts and Arbutus’ renewed focus on advancing its pipeline efficiently.”
Arbutus CEO Lindsay Androski said that imdusiran has produced a functional cure for chronic hepatitis B in eight patients. These patients received combination therapy consisting of the drug and a standard-of-care immunomodulator in two mid-stage clinical trials.
Learn more about why the licensing deal ended and what it means for Arbutus Biopharma’s research in the Philadelphia Business Journal.
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