By Fineline Cube 
China-based Minghui Pharmaceutical has entered into an exclusive licensing and collaboration agreement with Qilu Pharmaceutical. The deal grants Qilu development, manufacturing, and commercialization rights to Minghui’s B7-H3 antibody-drug conjugate (ADC) MHB088C in Greater China, including Mainland China, Hong Kong, Macau, and Taiwan.
Financial Terms of the Agreement
Under the agreement, Minghui will receive an upfront payment and near-term milestone payment totaling RMB 280 million (USD 38.7 million). Additionally, Minghui is eligible for RMB 1.065 billion (USD 147 million) in development, regulatory, and sales milestone payments. The total potential value of the agreement is RMB 1.345 billion (USD 186.1 million), including double-digit royalties on net product sales.
Drug Development and Technology
MHB088C is an innovative B7-H3-targeted ADC developed using Minghui’s proprietary SuperTopoi ADC platform. The drug has initiated the Phase III CTR20250586 study. Its linker and toxin have been optimized based on Daiichi Sankyo’s GGFG and Dxd platform, resulting in a toxin that is 5–10 times more potent than DXd. The drug-to-antibody ratio (DAR) is set at 4, and the Phase III dosage is 2.0 mg/mg, which is the lowest among similar drugs.-Fineline Info & Tech