China-based InventisBio (Shanghai) has signed a 'Collaboration Agreement' with China-based Betta Pharma, it was reported on Friday.

According to the contract, InventisBio will out-license D-0316's right in China (including mainland China, Hong Kong and Taiwan) to Betta Pharma and is to co-develop this drug in China. Betta Pharma will have the exclusive commercialisation rights for the D-0316 product in the country.

The product is a third-generation EGFR-T790M tyrosine kinase inhibitor discovered and developed independently by InventisBio. It is mainly utilised for the treatment of EGFR-mutant non-small cell lung cancer. The drug is presently in phase one clinical trial in China. Betta Pharma will pay upfront and R&D milestones to InventisBio worth RMB230m. After the product is marketed commercially, Betta Pharma will pay various sales milestones and tiered royalties based on annual sales.