Jiangsu Hengrui Pharmaceuticals Co., Ltd. (SHA: 600276) has announced a significant licensing agreement with US-based IDEAYA Biosciences Inc., (NASDAQ: IDYA). Under this agreement, Hengrui will grant IDEAYA development, manufacturing, and commercialization rights to its novel DLL3-targeting Topo-I-payload antibody drug conjugate (ADC), SHR-4849, for markets worldwide outside of Greater China.
Financial Terms of the Agreement
As per the terms of the deal, IDEAYA will make an upfront payment of USD 75 million to Hengrui. Additionally, IDEAYA is committed to paying up to USD 200 million in research and development milestone payments and up to USD 770 million in sales milestone payments. The agreement also includes the payment of mid-single to low-double digit royalties on net sales, reflecting the potential commercial success of SHR-4849.
Promising Preclinical Results for SHR-4849
SHR-4849 has demonstrated promising antitumor activity in preclinical studies, including tumor regression as a monotherapy in multiple models. This novel ADC represents a significant advancement in the field, with no similar products currently approved in China or globally, highlighting the potential impact of this licensing agreement on the future treatment landscape for cancer patients.-Fineline Info & Tech
