Intel stock spikes after report of possible US government stake
FOSTER CITY, Calif. - Apollomics Inc. (APLM), a clinical-stage biotech company currently valued at $8.4 million and trading near $7.61 per share, and LaunXP International Co., Ltd. have struck a deal granting LaunXP exclusive rights to develop and commercialize the cancer drug vebreltinib, in combination with an EGFR inhibitor, across several Asian markets. This partnership aims to treat non-small cell lung cancer (NSCLC), a disease where targeted kinase inhibitors are already a key therapy.
Under the agreement, Apollomics will receive $10 million upfront, with potential for regulatory and pre-commercial milestones up to $50 million, plus royalties on net sales. LaunXP will handle vebreltinib’s development in the specified Asian territories, excluding mainland China, Hong Kong, and Macau. According to InvestingPro data, this deal comes at a crucial time as Apollomics is quickly burning through cash, though it maintains more cash than debt on its balance sheet.
Vebreltinib, a c-Met inhibitor, has shown promise in preclinical models by targeting a pathway involved in tumor growth and resistance to certain therapies. Apollomics is conducting a Phase 2 multicohort trial in the U.S. and other countries, while its partner Avistone has secured conditional approval in China for multiple indications.
The collaboration is part of Apollomics’s broader strategy to maximize vebreltinib’s global potential, both as a standalone treatment and in combination with other therapies. LaunXP, with its focus on cancer treatment innovation, sees the partnership as a step towards improving patient outcomes by delaying resistance to EGFR inhibitors.
This announcement follows a press release statement and involves forward-looking statements subject to risks and uncertainties. These include regulatory impacts, clinical trial outcomes, intellectual property protection, and market acceptance of the product candidates. InvestingPro analysis indicates the company’s shares are currently undervalued, with 10+ additional ProTips and comprehensive financial metrics available to subscribers, including detailed health scores and growth projections.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.