Aslan Pharmaceuticals Ltd. said Thursday it reached an agreement with Bristol-Myers Squibb Co. to market the company's experimental cancer drug in China, Australia, Korea and Taiwan.

New York-based Bristol-Myers is studying the compound BMS-777607 as a treatment for solid tumors. Under the agreement Aslan would hold exclusive marketing rights for select Asian countries while Bristol-Myers would retain rights for the rest of the world. Financial terms were not disclosed.

Aslan is a privately-held drug developer based in Singapore.

Shares of Bristol-Myers Squibb rose 57 cents to close at $31.74.