Singapore: US drug giant Bristol-Myers Squibb (BMS) has entered into a licensing agreement with Chinese drug maker Zai Lab to develop, manufacture and commercialize brivanib, a treatment for heptaocellular carcinoma (HCC).

As per the terms, Zai Lab will be responsible for developing, manufacturing and commercializing brivanib in China and Bristol-Myers Squibb will be eligible to receive development based milestone payments and tiered royalties from the commercial sales of brivanib in China.

Bristol-Myers Squibb retains all development and commercialization rights to brivanib outside of China, Macau and Hong Kong. Mr Karl Lintel, president, Bristol-Myers Squibb, China, said, "HCC is the most common form of primary liver cancer across the globe and patients with intermediate-stage HCC typically live only 20 months after diagnosis. The agreement with Zai Lab will help in investigating brivanib as a potential treatment for patients living with HCC in China."

Mr Samantha Du, founder and CEO of ZAI Lab said, "We are very excited about this agreement. Brivanib has already been tested in multiple global Phase 3 studies with a large number of Chinese HCC patients participating in the trials. Encouraging efficacy data have been observed among the Chinese HCC patients with an acceptable safety profile. China accounts for more than 50 percent of global annual incidence of liver cancer, with more than 400,000 new cases and 371,000 deaths in 2012. Based on the preliminary analysis of the extensive Phase 3 data, brivanib may offer a new treatment option for Chinese HCC patients."