Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) has announced the cancellation of its partnership and licensing agreement with US-based EQRx Inc. (NASDAQ: EQRX) concerning the epidermal growth factor receptor (EGFR) inhibitor Ameile (almonertinib). As a result, the Chinese company will regain research and development (R&D), manufacturing, and commercialization rights to the drug outside of China, with no impact on the upfront and milestone payments already received.
Ameile’s Market Position and Approval History
Ameile, the world’s second innovative third-generation EGFR-TKI after AstraZeneca’s Tagrisso (osimertinib), received market approval in China in March 2020 for T790M-mutated locally advanced or metastatic non-small cell lung cancer (NSCLC) following first-line EGFR-TKI treatment. In December 2021, it was approved for the first-line treatment of locally advanced or metastatic NSCLC with EGFR exon 19 deletion or exon 21 (L858R) replacement mutation-positive. Hansoh entered into a licensing agreement with EQRx Inc. in July 2020, reportedly worth USD 100 million, granting EQRx exclusive rights outside of China.
EQRx’s Strategy and Partnership Changes
EQRx, established in 2019, aimed to disrupt the US market by offering modern, innovative medicines at lower prices, primarily through partnerships with China-developed molecules and leveraging China-based data for regulatory filings. However, as the US FDA indicated that this approach would not be feasible, EQRx began winding down earlier partnerships, including those with CStone Pharmaceuticals (HKEX: 2616) and Lynk Pharmaceuticals in May this year.
EQRx’s Acquisition by Revolution Medicines and Impact on Partnerships
Last week, EQRx revealed a definitive agreement to be fully acquired by US-based Revolution Medicines in an all-stock transaction, expected to close in November 2023. Revolution Medicines will not advance EQRx’s R&D portfolio, leading to the winding down of these programs and the return of all intellectual property to related partners.-Fineline Info & Tech
