Hanmi Pharmaceutical said that it has licensed in FLX475, the world’s first C-C motif chemokine receptor 4 (CCR4) oral immunotherapy candidate, from Rapt Therapeutics, a U.S. firm specializing in immunotherapy.

Under the accord, Hanmi will pay $4 million as an upfront payment to Rapt while the company is also eligible to receive up to $54 million in the course of developing, commercializing, and winning regulatory approval. If commercialized, the two companies plan on distributing the profits.

Hanmi will develop FLX475 in cooperation with Rapt and secure exclusive rights in Korea, China, Taiwan and Hong Kong.

FLX475 is an innovative oral anticancer drug that activates the cancer cell attack of immune cells. Rapt is undergoing a global clinical phase 1 and 2 for the drug as a monotherapy and a combination therapy with Keytruda for solid cancers. Some results of these phase 2 trials are expected to be available during the first half of 2020.

Hanmi plans to conduct phase 2 clinical trials of FLX475 in Korea and China.

“The agreement with Hanmi has laid the foundation for the drug to enter the Asian market where there are many patients with charged tumors,” Rapt CEO Brian Wong said. “With its rich R & D capabilities, clinical experience and a strong network as well as the execution and efficiency with key opinion leaders, we are confident that Hanmi is the best partner for the co-development of FLX475.”

Hanmi Pharmaceutical Kwon Se-chang also said, “Hanmi is striving to develop and expand an innovative immune cancer drug portfolio, and the recent agreement with Rapt will help strengthen the pipeline of Hanmi. We expect FLX475 to be a safe and effective new chemotherapy option.”

The company will work closely with Rapt to improve the health and quality of life of cancer patients, Kwon added.