Xynomic Pharma, a US-Shanghai clinical-stage oncology drug developer, acquired exclusive global rights to a 2nd-generation RAF inhibitor from Boehringer Ingelheim. Xynomic, which hopes BI 882370 will become a first-in-class drug, agreed to a $502 million package that includes upfront, milestone and royalty payments. Specific financial details were not disclosed. Formed in 2016 by US-China industry veterans, the company plans to in-license and develop oncology drug candidates for China, the US and the rest of the world.
Source: China Biotoday
