By Fineline Cube 
China-based Shanghai Fosun Pharmaceutical (Group) Co., Ltd (SHA: 600196, HKG: 2196) announced that its subsidiary Shanghai Henlius Biotech Inc. (HKG: 2696) has entered into a licensing agreement with Sandoz (SWX: SDZ). The deal grants the Swiss pharmaceutical company development, manufacturing, and commercialization rights for HLX13—a biosimilar of Bristol-Myers Squibb (BMS, NYSE: BMY)’s Yervoy (ipilimumab)—in Australia, Canada, Europe, Japan, and the US.
HLX13 Development and Indications
HLX13 is a cytotoxic T-lymphocyte-associated protein 4 (CTLA-4) monoclonal antibody (mAb) currently in Phase I clinical trials in China. It targets multiple oncology indications, including liver cancer, melanoma, advanced renal cell carcinoma, and metastatic colorectal cancer with high microsatellite instability (MSI-H) or mismatch repair deficiency (dMMR).
Financial Terms of the Agreement
Under the agreement, Sandoz will pay Henlius an upfront payment of USD 31 million. Additional payments of up to USD 160 million are tied to development milestones, and up to USD 110 million are contingent on sales milestones, based on the drug’s net sales performance.-Fineline Info & Tech