Shanghai Fosun Pharma (Group) Co., Ltd (SHA: 600196, HKG: 2196) announced that its US partner Eli Lilly has decided to cancel the licensing deal struck with its subsidiary Fochon Pharmaceuticals Ltd in relation to FCN-338, a selective B-cell lymphoma 2 (Bcl-2) small-molecule inhibitor. The decision was cited as a “product pipeline strategy adjustment.”
Original Licensing Agreement
The licensing agreement was initially entered into in October 2020, granting Eli Lilly exclusive development, manufacturing, and commercialization rights to FCN-338 outside of mainland China, Hong Kong, and Macau. Under the terms of the deal, Fosun was to receive USD 40 million upfront, USD 340 million in clinical development milestone payments, and an additional USD 60 million in marketing milestone payments, totaling USD 440 million.
Competitive Landscape and FCN-338 Development
Several firms are developing next-generation Bcl-2 inhibitors in China, including Ascentage Pharma’s APG-2575, BeiGene’s BGB-11417, and AbbVie’s venetoclax, which was approved in the US market in 2016 and received its first approval in China in December 2020. FCN-338 has obtained clinical trial approvals in both China and the US for the treatment of hematologic malignancies.-Fineline Info & Tech
