Sichuan Biokin Pharmaceutical Co., Ltd (SHA: 688506), a Chinese pharmaceutical company, has announced a landmark licensing and cooperation agreement with US pharmaceutical giant Bristol Myers Squibb (BMS; NYSE: BMY). The agreement focuses on Biokin’s antibody-drug conjugate (ADC) candidate, BL-B01D1, which targets EGFR and HER3. The deal was conducted specifically between BMS and Biokin’s US-based ADC subsidiary, Systimmune Inc.
BMS has agreed to an upfront payment of USD 800 million to Biokin—the largest ever upfront payment for a licensing deal secured by a Chinese firm—and is committed to an additional USD 500 million in near-term payments, with a further USD 7.1 billion in potential development, regulatory filing, and sales milestone payouts. This brings the total potential deal value to USD 8.4 billion, marking it as the second-largest licensing deal in total value commitments for China’s pharmaceutical industry.
The partnership will see the two companies collaborate on the development and commercialization of BL-B01D1 in the United States, while Biokin will independently handle development, commercialization, and manufacturing in mainland China, as well as supply some manufacturing for international use. BMS will be responsible for development and commercialization elsewhere.
Both parties will share global development costs for BL-B01D1 and split profits and losses in the US market. Biokin retains exclusive rights to develop and commercialize BL-B01D1 in mainland China through its affiliates, with BMS earning royalties from net sales in China. For sales outside the US and China, Biokin will charge tiered royalties from net sales.
BL-B01D1 is currently under investigation in a global multi-center Phase I study for metastatic or unresectable non-small cell lung cancer (NSCLC), with early data indicating significant anti-tumor activity in both NSCLC and breast cancer patients who have progressed after standard treatment.- Flcube.com
