China-based CSPC Pharmaceutical Group Ltd (HKG: 1093) announced a licensing agreement with Radiance Biopharma, Inc., granting the US firm exclusive development and commercialization rights to its SYS 6005 in multiple countries, including the United States, European Union, United Kingdom, Switzerland, Australia, and Canada.
Deal Terms
Under the agreement, CSPC Pharma will receive an upfront payment of USD 15 million. The company is also eligible for up to USD 150 million in development milestone payments and up to USD 1.075 billion in sales milestone payments, along with tiered sales commissions based on annual net sales in the territories.
Drug Profile
SYS 6005 is a human monoclonal antibody targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1). The drug utilizes CSPC’s proprietary enzyme-catalyzed targeted antibody conjugate technology to deliver the effective mitotic inhibitor MMAE to cancer cells expressing ROR1. The stability of its linker helps deliver high concentrations of MMAE to the tumor, reducing adverse systemic exposure and minimizing side effects.-Fineline Info & Tech
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