Aslan Pharmaceuticals has entered into an agreement with Bristol-Myers Squibb to develop an investigational small molecule inhibitor of MET receptor tyrosine kinase, BMS-777607, for treating solid tumours.

Aslan will have rights to develop and market BMS-777607 in Australia, China, Korea, Taiwan and other Asian countries, while Bristol-Myers Squibb will retain rights in the rest of the countries.

Under a pre-agreed development programme, the two parties will develop BMS-777607 against gastric cancer and lung cancer.

Francis Cuss, senior vice-president of research at Bristol-Myers Squibb, said that the partnership will work to produce high-quality data that may be used to further develop and commercialise the medicine worldwide.