Drugmaker Pfi### said on Monday it has signed a licensing agreement worth about $6 billion with Chinese biopharmaceutical company 3SBio Inc for the development, manufacturing and commercialization of a drug which could be used to treat certain types of cancer and tumors.
PfiPfi### stated that the drug candidate, which is being evaluated for non-small cell lung cancer, metastatic colorectal cancer and gynecological tumors, is currently undergoing multiple clinical trials in China. 3SBio plans to initiate the first Phase III trial in China this year.
3SBio said separately that the drug has received clearance from the U.S. Food and Drug Administration for its Investigational New Drug application.
[Via: economictimes.indiatimes.com]