Alphamab Oncology (HKG: 9966) and 3D Medicines (HKG: 1244), two Chinese pharmaceutical companies, have announced a licensing agreement with Glenmark Pharmaceuticals Ltd (NSE: GLENMARK). The agreement grants the Indian company exclusive development and commercialization rights to the co-developed drug envafolimab (KN035) in India, Asia Pacific (excluding Singapore, Thailand, Malaysia), Middle East and Africa, Russia, CIS, and Latin America for oncology indications.
According to the terms of the deal, Glenmark will pay a total of USD 700.8 million, which includes an upfront payment and development, regulatory, and commercialization milestone payments. Additionally, Glenmark will pay single-to-double digit royalties based on net sales.
Envafolimab, the world’s first PD-L1 single-domain antibody and human IgG1 Fc fusion protein capable of subcutaneous injection, was originated by Alphamab Oncology, with 3D Medicines as a co-development partner under a deal signed in January 2019. Simcere Pharmaceutical Group (HKG: 2096) joined the alliance in March 2020, taking on the exclusive responsibility for the commercial promotion of the drug in mainland China.- Flcube.com
