WO-2011060746 Compound, certain novel forms thereof, pharmaceutical compositions thereof and methods for preparation and use
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May 9, 2013
Hutchison Chi-Med expects to license global rights to fruqintinib, one of its novel small-cell cancer drugs, before year-end, according to CEO Christian Hogg.
The company has been in due diligence discussions with potential partners, he added. Because the drug is a promising treatment for solid tumors,
Chi-Med will conduct simultaneous clinical trials against several types of cancer, and the company wants a partner to help shoulder the financial burden
Hutchison China MediTech Ltd. (HCM), the drugmaker controlled by Hong Kong billionaire Li Ka-shing, is in talks to license a cancer treatment based on traditional Chinese medicines, Chief Executive Officer Christian Hogg said.
The Hong Kong-based company, known as Chi-Med, completed due diligence with potential partners and will probably reach an agreement on fruquintinib by year-end, Hogg said yesterday in an interview in London, where the shares trade. The medicine may be used to treat colorectal, lung, breast and gastric cancers, he said.
“A deal on fruquintinib is a pretty important priority,” Hogg said. “What we want to do is partner and take on in parallel clinical programs in all of those tumor types.”
A licensing agreement on fruquintinib, which has completed early-stage testing, would follow a joint venture with Nestle SA (NESN), which last month said it has started late-stage trials of HMPL-004 for ulcerative colitis. Chi-Med is aiming to be the first drugmaker to bring to market pharmaceutical products from traditional Chinese botanicals.
Fruquintinib will probably be the last product for which Chi-Med will grant global marketing rights to a partner, with subsequent agreements giving Chi-Med the rights to China, Hogg said. China’s pharmaceutical market is expected to grow as much as 18 percent a year to $165 billion by 2016, making it the world’s second-largest market after the U.S., according to consultancy IMS Health Inc.