China-based biopharmaceutical company Junshi Biosciences (HKG: 1877, SHA: 688180) has announced a joint venture (JV) with Taiwan-headquartered Rxilient Biotech to develop and commercialize its programmed death-1 (PD-1) inhibitor, Tuoyi (toripalimab), across Southeast Asia. The agreement covers key territories including Thailand, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, and Vietnam.
Joint Venture Terms and Responsibilities
Under the terms of the agreement, Rxilient will invest USD 4.99 million by subscribing to newly issued shares of its wholly owned subsidiary, Excellmab. In turn, Junshi Bio will contribute the licensing rights to Tuoyi in the specified Southeast Asian territories to Excellmab. Excellmab will take on the development, medical affairs, finished product production, and commercialization of Tuoyi, with profits to be distributed based on the shareholding ratios of both Joint venture partners. Additionally, Junshi will offer Excellmab the option to negotiate commercialization rights for four other products within the cooperation area, subject to further discussions.
Financial Arrangements and Potential Milestones
The collaboration is financially structured to allow Junshi Biosciences to receive up to USD 4.52 million in milestone payments, contingent upon the progress of Tuoyi’s research and development and other related matters. Furthermore, Junshi is also entitled to receive royalties based on the net sales of Tuoyi in the Southeast Asian markets.
Toripalimab’s Background and Global Reach
Toripalimab, China’s first domestically approved PD-1 inhibitor, was granted approval in December 2018 as a second-line treatment for melanoma. The drug has since received six indication approvals in China and is involved in over 30 clinical studies targeting various types of cancer, including lung, nasopharyngeal, esophageal, gastric, bladder, breast, liver, kidney, and skin cancers. Currently, multiple market filings for toripalimab are under review in the US, European Union, and UK, indicating its potential for global impact.-Fineline Info & Tech
