China-based Hasten Biopharmaceutical Co., Ltd has entered into a licensing agreement with US firm LIB Therapeutics Inc., securing the development and commercial rights to LIB’s lerodalcibep for the Greater China territory, which includes mainland China, Hong Kong, Macau, and Taiwan. The agreement involves an upfront payment of USD 20 million to LIB Therapeutics and commits Hasten to potential milestone payments of up to USD 305 million, covering clinical, regulatory, and sales achievements, as well as net annual sales-based royalties.
Lerodalcibep: A Third-Generation Long-Acting PCSK9 Inhibitor
The fusion protein, lerodalcibep, is a third-generation long-acting PCSK9 inhibitor designed for monthly subcutaneous injections to treat patients with hyperlipidemia. This innovative therapy is currently in the Phase III clinical stage globally and is anticipated to be filed for clinical trials in China later this year, expanding access to this treatment for patients in the region.
Strategic Expansion and Market Potential
This licensing agreement marks a strategic expansion for Hasten Biopharmaceutical Co., Ltd, as it brings a promising hyperlipidemia treatment to the Greater China market. The potential approval and commercialization of lerodalcibep in China could significantly impact the treatment landscape for hyperlipidemia, offering a new option for patients and healthcare providers.-Fineline Info & Tech
