China-based Simcere Pharmaceutical Group Ltd (HKG: 2096) has announced a significant strategic move through its oncology subsidiary, Simcere Zaiming. The company has entered into a license option agreement with global pharmaceutical giant AbbVie Inc. (NYSE: ABBV) for the development of its promising drug candidate, SIM0500.
Deal Structure and Financials
Under the terms of the agreement, Simcere Zaiming will receive an upfront payment, with the potential for additional option fees and milestone payments totaling up to USD 1.055 billion. This substantial deal also includes provisions for tiered royalties on net sales, with AbbVie eligible to receive royalties on sales within the Greater China territory, while Simcere Zaiming will receive royalties on sales outside this region.
SIM0500: A Promising Trispecific Antibody
SIM0500 is a groundbreaking humanized trispecific antibody targeting GPRC5D, BCMA, and CD3. Developed independently by Simcere Zaiming using their advanced T-cell engager polyspecific antibody technology platform, this molecule is designed with a low affinity/high target-activating CD3 engaging arm, along with binding sites for the tumor antigens GPRC5D and BCMA. SIM0500 has demonstrated robust T cell cytotoxicity against multiple myeloma (MM) cells, harnessing a combination of various antitumor effects. Currently, it is undergoing Phase I clinical trials in patients with relapsed or refractory multiple myeloma in both China and the U.S., positioning it as a potential game-changer in the treatment of this challenging disease.-Fineline Info & Tech
