Adlai Nortye Biopharma, a Hangzhou oncology in-licensing company, acquired global rights to a clinical-stage Novartis cancer drug, buparlisib. Buparlisib is an oral pan-PI3K inhibitor that targets all class 1 PI3K isoforms. Novartis has conducted successful Phase II tests of the drug in various hematologic malignancies and also believes it will show efficacy when paired with paclitaxel in solid tumors. One week ago, Adlai Nortye completed a $53 million Series B financing to develop its portfolio of in-licensed immuno-oncology and oncology candidates.
Source: China Biotoday
