WALTHAM, Mass., July 30, 2015 (GLOBE NEWSWIRE) -- TESARO, Inc. (NASDAQ:TSRO), an oncology-focused biopharmaceutical company, and Jiangsu Hengrui Medicine Co., Ltd., a fully integrated pharmaceutical company based in China, today announced an exclusive license agreement for the development, registration, manufacture, and commercialization of rolapitant in China. Hengrui will make upfront and milestone payments to TESARO subject to the achievement of certain events, in addition to royalty payments on annual net sales in China. Additional financial details were not disclosed.
"TESARO is committed to advancing new therapeutic options for patients with cancer, and we are pleased to be working with Hengrui to develop and commercialize rolapitant for patients in China," said Lonnie Moulder, CEO of TESARO. "Hengrui is a leading innovative pharmaceutical company in China, with a substantial portfolio of marketed oncology products, deep regulatory expertise, and a robust pipeline of product candidates. With a strong commitment to quality and a significant level of expertise in clinical development, regulatory affairs, and commercialization, we believe Hengrui is the optimal partner to develop rolapitant in China."
Piaoyang Sun, Chairman of the Board of Hengrui, added, "As one of the leading pharmaceutical companies in China, Hengrui has a rich history of delivering high quality oncology products worldwide and continues to be committed to developing innovative oncology medicines. In recent years, Hengrui has expanded its oncology portfolio to include cancer supportive care products, and the development and commercialization of rolapitant for China is the most recent example of our effort to make new therapeutic options available to millions of cancer patients here. We are extremely pleased to be working with TESARO, an emerging leader in the development of oncology specialty medicines."
Rolapitant is an investigational neurokinin-1 (NK-1) receptor antagonist being developed for the prevention of chemotherapy-induced nausea and vomiting (CINV). The New Drug Application (NDA) for oral rolapitant is currently under review by the U.S. Food and Drug Administration, with a PDUFA goal date of September 5, 2015. Rolapitant has not been approved by any regulatory agency.
About Jiangsu Hengrui Medicine Co., Ltd.
Jiangsu Hengrui Medicine Co., Ltd., established in 1970, is a fully integrated pharmaceutical company based in China, with annual net sales of over U.S. $1.2 billion. Hengrui's products and R&D span multiple therapeutic areas, including oncology and hematology, anesthesiology and pain management, cardiovascular and metabolic diseases, contrast media, and inflammation. Visit http://www.hrs.com.cn for further information.
TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients by acquiring, developing, and commercializing safer and more effective therapeutics. For more information, please visit www.tesarobio.com.