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Business

Genentech gets cancer drug from Hanmi

by Michael McCoy
October 3, 2016 | APPEARED IN VOLUME 94, ISSUE 39

Genentech has licensed a small-molecule oncology treatment from the South Korean drug company Hanmi Pharmaceutical. Genentech will pay $80 million up front and up to $830 million in milestone payments for worldwide rights, except in South Korea, to HM95573, a pan-RAF inhibitor that is in Phase I clinical trials. RAF kinases are mitogen-activated protein kinases that are known to be associated with various cancers. Genentech says it has worked in this area for 25 years.

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