(Yicai Global) April 1 -- China's Brightgene Bio-Medical Technology has won an exclusive USD8.5 million contract to team up with a US pharmaceutical firm to produce a generic version of a breast cancer drug with an expiring patent.

BrightGene has penned an agreement with a US partner who wished to remain anonymous to develop intravenous eribulin mesylate, the Suzhou-based supplier said in a statement yesterday. The ally will make a down payment of USD500,000 within 30 days.

The original drug, developed by Japan's Eisai under brand name Halavan, was approved by the US Food and Drug Administration in 2010. The US patent expires in July, 2023. In China, the patent already expired last June. 

BrightGene [SHA:688166], which trades on Shanghai's Nasdaq-like Star Market, climbed by 2.7 percent to CNY44.1 (USD6.20) by the closing bell. 

Editor: Emmi Laine