Genrix Bio Licenses BCMA×CD3 Bispecific Velinotamig to Fosun’s Yaopharma for Greater China in $268M Deal

Chongqing Genrix Bio Pharmaceutical Co., Ltd. (SHA: 688443) announced a licensing agreement with Yaopharma Co., Ltd., a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SHA: 600196, HKG: 2196), for velinotamig (GR1803), a BCMA×CD3 bispecific antibody (BsAb). Under the terms, Yaopharma secures exclusive rights to develop and commercialize velinotamig across Greater China (including Hong Kong, Macau, and Taiwan), along with exclusive manufacturing rights.

Deal Financial Structure

Drug Profile & Regulatory Status

• Molecule Type: BCMA×CD3 bispecific antibody (BsAb)
• Indication: Relapsed or refractory multiple myeloma (RRMM) in adults with ≥3 prior lines of therapy
• Regulatory Status: Conditional marketing application submitted and accepted by China’s NMPA in January 2026 with priority review designation
• Additional Development: Phase I trial in systemic lupus erythematosus (autoimmune indication) steadily advancing

Strategic Partnership Framework

Market Context & Competitive Landscape

Multiple Myeloma Therapeutic Environment

• High Unmet Need: RRMM patients with ≥3 prior lines represent difficult-to-treat population with poor prognosis
• BCMA-Targeted Therapies: Emerging class including CAR-T cells, antibody-drug conjugates, and bispecific antibodies
• China Market Dynamics: Rapidly growing multiple myeloma patient population with increasing access to innovative therapies
• Regulatory Acceleration: Priority review designation reflects significant unmet medical need

Competitive BCMA Bispecific Antibodies

Strategic Implications

For Genrix Bio

• Capital Generation: $268M deal provides substantial non-dilutive funding for pipeline expansion
• Risk Mitigation: Partners with Fosun’s established commercial infrastructure in Greater China
• Global Strategy: Complements existing global out-license to Cullinan Therapeutics (>$700M deal)
• Platform Validation: Success validates Genrix’s bispecific antibody platform

For Fosun Pharmaceutical/Yaopharma

• Oncology Portfolio Enhancement: Adds late-stage BCMA bispecific to growing oncology pipeline
• Multiple Myeloma Focus: Strengthens position in hematological malignancies
• Local Manufacturing Control: Exclusive process rights ensure supply chain security
• Commercial Synergies: Leverages existing hematology sales force and hospital relationships

Forward-Looking Statements
This brief contains forward-looking statements regarding regulatory approvals, clinical development, and commercial potential for velinotamig. Actual results may differ due to risks including NMPA approval decisions, market competition, pricing negotiations, and competitive dynamics in the rapidly evolving multiple myeloma landscape.-Fineline Info & Tech