Mabwell (Shanghai) Bioscience Co., Ltd (SHA: 688062), a biopharmaceutical company based in China, has announced the cancellation of licensing agreements with Yangtze River Pharmaceutical Group for two of its drug candidates: 8MW0511, a recombinant (yeast secreted) human serum albumin human granulocyte colony-stimulating factor (I) fusion protein for injection, and 9MW1111, a recombinant humanized anti-PD-1 monoclonal antibody injection.
In a deal inked in March 2021, Yangtze River Pharmaceutical Group secured exclusive rights to develop, manufacture, and commercialize 9MW1111 in mainland China for a total consideration of RMB 470 million, including an upfront payment, milestone payments, and sales commissions. As of December 31, 2023, 9MW1111 was in a Phase Ib study, with Mabwell having received an upfront payment of RMB 20 million and an upfront development fee of RMB 16 million.
Another licensing agreement signed in March 2021 allowed Yangtze River Pharmaceutical Group to obtain exclusive manufacturing and commercialization rights to 8MW0511 in mainland China. This included sharing development fees and paying an upfront payment, milestone payments, and net sales commissions. The drug is currently under marketing review in China for use in reducing the incidence of infections manifested by febrile neutropenia in adult non-myeloid malignant tumor patients receiving bone marrow suppressive anticancer drugs. Mabwell has received an upfront payment of RMB 50 million and shared development fees of RMB 82.6 million.
Significant market price changes for PD-1 and G-CSF products, along with the potential for these drugs to be developed in combination with other oncology products, have led Mabwell to decide to reclaim all rights to both drugs.- Flcube.com
