U.S. partner Lily completely walks away from drug deal with Hanmi Pharmaceutical

By Lim Chang-won Posted : January 23, 2019, 08:50 Updated : January 23, 2019, 08:50
 

[Courtesy of Hanmi Pharmaceutical]


SEOUL -- Eli Lilly and Company, a U.S. pharmaceutical company, has completely walked away from its partnership with South Korea's leading drug maker Hanmi Pharmaceutical, returning its right to develop and commercialize a new drug candidate for the treatment of immune diseases.

Hanmi said in a regulatory filing on Wednesday that the Indianapolis-based company has returned development rights because interim results showed a lack of efficacy. The two companies had studied the effects of a Bruton's tyrosine kinase (BTK) inhibitor (HM71224) in patients with rheumatoid arthritis.

Under a 2015 deal, Lilly acquired exclusive rights to develop and commercialize BTK inhibitors worldwide and pay up to $765 million in down payments and milestone royalty fees. The drug was also explored as a potential treatment for lupus, lupus nephritis and other related conditions.

At the time the two companies expressed hope for HM71224 to have an effect on prevalent autoimmune diseases, but Lily stopped clinical development in February last year. Lily will lose the $53 million down payment, and Hanmi will receive all clinical and developmental data from the American company.

Hanmi said it would consider developing other indications for HM71224. Rheumatoid arthritis affects an estimated 23.7 million people worldwide. The condition is a chronic inflammatory condition characterized by pain, swelling of the joints, stiffness and disability.

In October 2016, Boehringer Ingelheim walked away from its $730 million partnership with Hanmi over safety concerns of Olita (Olmutinib) during clinical trials. Hanmi stopped the development of Olita, which used to be touted as a "breakthrough therapy" for patients who have developed a tolerance to existing lung cancer treatments.



 
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