Nimotuzumab milestone for YM Bio
Canada's YM BioSciences, an oncology company that identifies, develops and commercializes differentiated products for patients worldwide, says that its majority-owned subsidiary CIMYM BioSciences has received a milestone payment from licensee Innogene Kalbiotech in recognition of the recent marketing approval of nimotuzumab in the Philippines and Indonesia. IGK is the biotechnology subsidiary of PT Kalbe Farma Tbk of Jakarta, Indonesia, one of the largest pharmaceutical companies in the region with more than 8,100 employees and annual revenues exceeding $300.0 million.
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