YM BioSciences Expands Development Program for Lead Cancer Drug

YM BioSciences has partnered with the Shin Poong Pharmaceutical of Seoul, South Korea, to expand the development program for its lead drug, tesmilifene, into gastric cancer.

The two companies will form a joint development team to oversee the development of tesmilifene in gastric cancer. Shin Poong will fully fund development costs and provide an undisclosed amount of up-front, milestone and royalty payments.

In addition, Shin Poong will launch a bridging study in the local population in 2005 to allow the breast cancer indication currently under study by YM to be launched in Korea and other Asian countries. Shin Poong recently completed recruitment for a gastric cancer study with its proprietary taxane drug, Padexol.