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Hutchmed (China) Ltd on Monday said it has received $15 million from AstraZeneca PLC as start-up activities for Saffron commenced.
Saffron is Hutchmed's phase three study for orpathys in combination with tagrisso in lung cancer patients with mesenchymal epithelial transition receptor driven tumours following progression after tagrisso.
Saffron is expected to commence enrolling patients in mid-2022.
To date, AstraZeneca has paid Hutchmed $85 million of the total $140 million upfront payments, development and first-sale milestones due under the license and collaboration agreement between the two companies which began in 2011.
Joint development of orpathys, known as savolitinib outside of China, is led by Hutchmed in China, while AstraZeneca leads development outside of China.
Hutchmed is responsible for the marketing authorization, manufacturing and supply of savolitinib in China. AstraZeneca is responsible for the commercialization of savolitinib in China and worldwide. Sales of savolitinib are recognized by AstraZeneca.
Shares in Hutchmed were down 6.4% at 299.50 pence on Monday morning in London.
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