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CANbridge Pharmaceuticals and Puma Biotechnology Agree to Terminate NERLYNX® License Agreement and Settle Arbitration
February 25, 2021 GMT
BEIJING & CAMBRIDGE, Mass. (BUSINESS WIRE) Feb 25, 2021
CANbridge Pharmaceuticals, Inc., a biopharmaceutical company focused on developing and commercializing drug candidates in China and North Asia, and Puma Biotechnology, Inc. (Nasdaq: PBYI), a biopharmaceutical company, have agreed to terminate their 2018 license agreement, in which Puma granted CANbridge exclusive rights to develop and commercialize NERLYNX® (neratinib) in Greater China, and to settle their arbitration related to the license agreement.
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CANbridge Pharmaceuticals Inc., a company developing and commercializing innovative drugs to treat rare diseases and targeted cancers, announced that it has appointed Justin Lu to the position of General Manager of China, responsible for setting up and operating commercial operations in China. Mr. Lu will be based in Shanghai. Justin s proven expertise in pharmaceutical operations, developed over two decades at leading world-class companies, will allow CANbridge to build robust operations in China and carry us into the future as we grow our product portfolio, said James Xue, PhD, CANbridge Founder, Chairman and CEO. We are delighted to welcome him to the team.