RemeGen Co., Ltd. (SHA: 688331, HKG: 9995) announced an exclusive licensing agreement with AbbVie Inc. (NYSE: ABBV) for RC148, a novel PD‑1/VEGF bispecific antibody, granting AbbVie exclusive rights to develop, manufacture, and commercialize the asset in all regions outside Greater China.
Expands AbbVie’s oncology pipeline beyond hematology into solid tumors
Drug Profile
Molecule: Novel PD‑1/VEGF bispecific antibody designed to simultaneously activate anti‑tumor immune responses while inhibiting tumor‑driven angiogenesis
Mechanism: Dual targeting of PD‑1 checkpoint and VEGF pathway within a single molecule, potentially offering synergistic efficacy and improved tumor microenvironment modulation
Development Stage: Ongoing clinical studies in China evaluating RC148 both as monotherapy and in combination regimens for various advanced solid tumors (trial details undisclosed)
Differentiation: Single‑agent dual‑blockade may reduce need for combination chemotherapy and manage resistance vs. separate PD‑1 + VEGF inhibitor combinations
Intellectual Property: Global patent family filed; RemeGen retains full rights in Greater China
Financial Terms
Component
Amount/Terms
Upfront Payment
USD 650 million (upon regulatory approval of agreement)
Development Milestones
Up to USD 2.1 billion (Phase II/III initiation, data readouts)
Regulatory Milestones
Up to USD 1.4 billion (BLA/MAA approvals in US/EU/Japan)
Commercial Milestones
Up to USD 1.45 billion (annual sales thresholds)
Total Deal Value
Up to USD 5.6 billion
Royalties
Tiered double‑digit royalties on net sales outside Greater China
RemeGen Retains
Full rights to RC148 in Greater China, plus manufacturing technology transfer fees
Market Opportunity & Outlook
Parameter
2026E
2027E
2028E
Global PD‑1/VEGF Bispecific Market
$0.8 billion
$2.1 billion
$4.5 billion
Solid Tumor Indications (RC148‑eligible)
1.2 million
1.25 million
1.3 million
AbbVie Peak Market Share Target
–
8 %
15 %
Peak Annual Sales Potential (ex‑China)
–
–
$2.4 billion (2033E)
RemeGen Royalty Forecast
–
$48 million
$192 million
Competitive Landscape:
Akeso’s ivonescimab (PD‑1/VEGF bispecific) approved in China (2024) for NSCLC; pursuing global trials
NMPA’s cadonilimab (PD‑1/CTLA‑4) and Summit/Tivdak combos in development
Differentiation: RC148’s human IgG1 scaffold and optimized FcγR binding may offer superior ADCC and reduced immune‑related adverse events vs. competitors
Forward‑Looking Statements This brief contains forward‑looking statements regarding RC148 development milestones, potential regulatory approvals, and projected royalty streams. Actual results may differ due to competitive dynamics, clinical trial outcomes, and AbbVie’s strategic prioritization.-Fineline Info & Tech
By Fineline Cube 