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Chugai Pharmaceutical secures rights to anticancer drug in Japan

Chugai Pharmaceutical Co. Ltd. secured the rights to Pharma Mar SA's PM1183 cancer treatment in Japan.

The companies entered an exclusive license, development and commercialization agreement under which Pharma Mar will receive an upfront payment of €30 million and up to a further €100 million in milestone-related payments.

Pharma Mar is also eligible for royalties on the sales of its third marine-derived anticancer drug. The company will continue clinical development of PM1183 to treat platinum-resistant ovarian cancer and small cell lung cancer in Japan.