Drug major on Thursday said it has received payment of USD 50 million (around Rs 363.5 crore) from Germany-based Boehringer Ingelheim for achievement of key milestones by its novel cancer drug, a potential target therapy for patients with difficult-to-treat cancers.
In a regulatory filing, Lupin announced “the achievement of key milestones for Lupin’s MEK inhibitor compound (LNP3794) that is planned for development by Boehringer Ingelheim in combination as potential targeted therapy for patients with difficult-to-treat cancers.” In 2019, Lupin and Boehringer Ingelheim had inked a licensing, development and commercialisation agreement for Lupin’s novel oncology compound.

“As part of the agreement, Lupin has received payment of USD 50 million from Boehringer Ingelheim for achievement of key milestones,” Lupin said in the regulatory filing.

Lupin said its new chemical entity research team is focused on building a pipeline of highly differentiated and innovative new chemical entities, primarily in the oncology space.

Source:https://health.economictimes.indiatimes.com/news/finance/lupin-receives-50-million-from-boehringer-ingelheim-for-achievement-of-key-milestones/82998364