Jiangsu QYuns Therapeutics Co., Ltd, a biopharmaceutical company based in China, has entered into a partnership with compatriot firm Hansoh Pharmaceutical Group Co., Ltd (HKG: 3692) for the development and commercialization of its Category biologic product, QX004N. QX004N is an in-house developed monoclonal antibody (mAb) that specifically binds to IL-23 and is currently undergoing a Phase II study for the treatment of psoriasis and a Phase Ia study for Crohn’s disease.
According to the terms of the agreement, Hansoh will obtain exclusive rights to research and develop, manufacture, and commercialize QX004N in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan. QYuns will retain the rights for all territories outside of Greater China. Hansoh will make an upfront payment of RMB 75 million (USD 10.39 million) and is also committed to paying up to RMB 1.032 billion (USD 143 million) in milestone payments. In addition, QYuns will receive high single-digit to low double-digit tiered royalties on future sales of the product.- Flcube.com
