Arana Therapeutics VP Cliff Holloway On Building A U.S.-Style Biotech In Australia: An Interview With PharmAsia News

Arana Therapeutics announced April 24 a co-development deal with Japanese biotech company Kyowa Hakko Kogyo to develop anticancer drug ART104 for colorectal cancer. Under the deal Arana, based in Sydney, Australia, receives an up-front payment of $4 million and additional milestones of up to $4 million. The companies will share equal ownership and development costs; Kyowa Hakko has an option to develop and commercialize the product in some Asian markets, including China, Japan, South Korea and Taiwan.