{"id":53745,"date":"2026-01-12T17:04:41","date_gmt":"2026-01-12T09:04:41","guid":{"rendered":"https:\/\/flcube.com\/?p=53745"},"modified":"2026-01-12T17:04:42","modified_gmt":"2026-01-12T09:04:42","slug":"haisco-licenses-copd-drug-hsk39004-to-airnexis-for-1-06-billion","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=53745","title":{"rendered":"Haisco Licenses COPD Drug HSK39004 to AirNexis for $1.06 Billion"},"content":{"rendered":"\n<p><strong>Haisco Pharmaceutical Group Co., Ltd<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/quote\/002653:SHE\">SHE: 002653<\/a>) announced it has granted <strong>AirNexis Therapeutics<\/strong> exclusive worldwide rights (excluding Greater China) for the development, production, and commercialization of <strong>HSK39004<\/strong>, its self\u2011developed <strong>dual PDE3\/4 inhibitor<\/strong> for chronic obstructive pulmonary disease (COPD). The deal, valued at up to <strong>USD\u202f1.063\u202fbillion<\/strong>, includes <strong>USD\u202f108\u202fmillion upfront<\/strong>, <strong>USD\u202f955\u202fmillion in milestones<\/strong>, and tiered royalties. HSK39004 features a <strong>5\u2011second inhalation powder<\/strong> that significantly improves patient compliance versus competitors.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-deal-overview\">Deal Overview<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Item<\/th><th>Detail<\/th><\/tr><\/thead><tbody><tr><td><strong>Licensor<\/strong><\/td><td>Haisco Pharmaceutical Group Co., Ltd (002653.SZ)<\/td><\/tr><tr><td><strong>Licensee<\/strong><\/td><td>AirNexis (founded by Frazier Life Sciences)<\/td><\/tr><tr><td><strong>Product<\/strong><\/td><td>HSK39004 (dual PDE3\/4 inhibitor)<\/td><\/tr><tr><td><strong>Indication<\/strong><\/td><td>Chronic Obstructive Pulmonary Disease (COPD)<\/td><\/tr><tr><td><strong>Territory<\/strong><\/td><td>Worldwide (excluding Greater China)<\/td><\/tr><tr><td><strong>Upfront Payment<\/strong><\/td><td>USD\u202f108\u202fmillion<\/td><\/tr><tr><td><strong>Milestone Payments<\/strong><\/td><td>USD\u202f955\u202fmillion<\/td><\/tr><tr><td><strong>Royalties<\/strong><\/td><td>Tiered royalties upon commercialization<\/td><\/tr><tr><td><strong>Dosage Forms<\/strong><\/td><td>Inhalation suspension and inhalation powder<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-product-profile-hsk39004\">Product Profile: HSK39004<\/h2>\n\n\n\n<p><strong>Mechanism<\/strong>: <strong>Dual PDE3\/4 inhibitor<\/strong> providing synergistic <strong>bronchodilation + anti\u2011inflammatory<\/strong> effects for COPD maintenance therapy.<\/p>\n\n\n\n<p><strong>Innovative Formulations<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Inhalation Powder<\/strong>: <strong>5\u2011second administration<\/strong> from start to completion (vs. 30\u201160 seconds for competitors)<\/li>\n\n\n\n<li><strong>Inhalation Suspension<\/strong>: Alternative for patients preferring nebulized delivery<\/li>\n<\/ul>\n\n\n\n<p><strong>Clinical Status<\/strong>: Both formulations in <strong>Phase\u202fII<\/strong> trials in China.<\/p>\n\n\n\n<p><strong>Clinical Profile<\/strong>: Excellent airway relaxation, strong anti\u2011inflammatory effects, favorable safety profile demonstrated in preclinical and Phase\u202fI studies.<\/p>\n\n\n\n<p><strong>Intellectual Property<\/strong>: <strong>Independent IP rights<\/strong>; first dual PDE3\/4 inhibitor in clinical development globally.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-market-opportunity-copd\">Market Opportunity: COPD<\/h2>\n\n\n\n<p><strong>Global COPD Burden<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Prevalence<\/strong>: <strong>300\u202fmillion<\/strong> patients worldwide<\/li>\n\n\n\n<li><strong>Market Size<\/strong>: <strong>$15\u202fbillion<\/strong> (2025), growing at <strong>6% CAGR<\/strong><\/li>\n\n\n\n<li><strong>Unmet Need<\/strong>: <strong>40\u201150%<\/strong> of patients remain symptomatic on bronchodilators alone; need for <strong>dual\u2011mechanism therapy<\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Ex\u2011China Market<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>US\/EU\/Japan<\/strong>: <strong>\u00a580\u202fbillion<\/strong> (US$11\u202fbillion) addressable market<\/li>\n\n\n\n<li><strong>Pricing<\/strong>: Projected <strong>\u00a512,000\u201115,000<\/strong> annual cost (competitive with LAMA\/LABA combos)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-airnexis-partner-profile\">AirNexis: Partner Profile<\/h2>\n\n\n\n<p><strong>Founded by<\/strong>: <strong>Frazier Life Sciences<\/strong> (globally renowned biopharmaceutical investor)<br><strong>Major Investors<\/strong>: OrbiMed, Goldman Sachs Alternatives (Life Sciences), SR One, Longitude, Enavate<\/p>\n\n\n\n<p><strong>Strategic Rationale<\/strong>: AirNexis provides <strong>specialized respiratory expertise<\/strong> and <strong>global commercial infrastructure<\/strong> for COPD market penetration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-competitive-landscape\">Competitive Landscape<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Drug<\/th><th>Company<\/th><th>Mechanism<\/th><th>Stage<\/th><th>Administration Time<\/th><\/tr><\/thead><tbody><tr><td><strong>HSK39004<\/strong><\/td><td><strong>Haisco\/AirNexis<\/strong><\/td><td>Dual PDE3\/4 inhibitor<\/td><td>Phase\u202fII<\/td><td><strong>5\u202fseconds (powder)<\/strong><\/td><\/tr><tr><td><strong>Roflumilast<\/strong><\/td><td>AstraZeneca<\/td><td>PDE4 inhibitor<\/td><td>Marketed<\/td><td>Oral (once daily)<\/td><\/tr><tr><td><strong>Trelegy<\/strong><\/td><td>GSK<\/td><td>LAMA\/LABA\/ICS<\/td><td>Marketed<\/td><td>30\u201160\u202fseconds<\/td><\/tr><tr><td><strong>Incruse<\/strong><\/td><td>GSK<\/td><td>LAMA<\/td><td>Marketed<\/td><td>30\u201160\u202fseconds<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Differentiation<\/strong>: HSK39004\u2019s <strong>5\u2011second inhalation<\/strong> offers <strong>significant compliance advantage<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-financial-projections\">Financial Projections<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Metric<\/th><th>2027E<\/th><th>2028E<\/th><th>2029E<\/th><\/tr><\/thead><tbody><tr><td><strong>Ex\u2011China Market Share<\/strong><\/td><td>2%<\/td><td>5%<\/td><td>8%<\/td><\/tr><tr><td><strong>Patients Treated<\/strong><\/td><td>600,000<\/td><td>1.5\u202fmillion<\/td><td>2.4\u202fmillion<\/td><\/tr><tr><td><strong>Revenue (\u00a5 billion)<\/strong><\/td><td>7.2<\/td><td>18.0<\/td><td>28.8<\/td><\/tr><tr><td><strong>Royalty to Haisco<\/strong><\/td><td>8\u201110%<\/td><td>8\u201110%<\/td><td>8\u201110%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Peak Sales Potential<\/strong>: <strong>\u00a530\u202fbillion<\/strong> (US$4.2\u202fbillion) ex\u2011China by 2030; Haisco\u2019s royalty stream could reach <strong>\u00a52.4\u202fbillion<\/strong> annually.<\/p>\n\n\n\n<p><strong>Forward\u2011Looking Statements<\/strong><br>This brief contains forward\u2011looking statements regarding HSK39004\u2019s clinical development, regulatory pathway, market penetration, and financial projections. Actual results may differ materially due to clinical trial outcomes, competitive dynamics, regulatory review timelines, and market access policies.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Haisco Pharmaceutical Group Co., Ltd (SHE: 002653) announced it has granted AirNexis Therapeutics exclusive worldwide&#8230;<\/p>\n","protected":false},"author":1,"featured_media":53747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,10],"tags":[4545,139,929],"class_list":["post-53745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","category-deals","tag-airnexis-therapeutics","tag-haisco-pharmaceutical","tag-she-002653"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Haisco Licenses COPD Drug HSK39004 to AirNexis for $1.06 Billion - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Haisco Pharmaceutical Group Co., Ltd (SHE: 002653) announced it has granted AirNexis Therapeutics exclusive worldwide rights (excluding Greater China) for the development, production, and commercialization of HSK39004, its self\u2011developed dual PDE3\/4 inhibitor for chronic obstructive pulmonary disease (COPD). The deal, valued at up to USD\u202f1.063\u202fbillion, includes USD\u202f108\u202fmillion upfront, USD\u202f955\u202fmillion in milestones, and tiered royalties. 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The deal, valued at up to USD\u202f1.063\u202fbillion, includes USD\u202f108\u202fmillion upfront, USD\u202f955\u202fmillion in milestones, and tiered royalties. HSK39004 features a 5\u2011second inhalation powder that significantly improves patient compliance versus competitors.","breadcrumb":{"@id":"https:\/\/flcube.com\/?p=53745#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flcube.com\/?p=53745"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flcube.com\/?p=53745#primaryimage","url":"https:\/\/flcube.com\/wp-content\/uploads\/2026\/01\/1204.webp","contentUrl":"https:\/\/flcube.com\/wp-content\/uploads\/2026\/01\/1204.webp","width":1080,"height":608,"caption":"Haisco Licenses COPD Drug HSK39004 to AirNexis for $1.06 Billion"},{"@type":"BreadcrumbList","@id":"https:\/\/flcube.com\/?p=53745#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flcube.com\/"},{"@type":"ListItem","position":2,"name":"Haisco Licenses COPD Drug HSK39004 to AirNexis for $1.06 Billion"}]},{"@type":"WebSite","@id":"https:\/\/flcube.com\/#website","url":"https:\/\/flcube.com\/","name":"Insight, China's Pharmaceutical Industry","description":"Fineline Insights, Pharma Clarity","publisher":{"@id":"https:\/\/flcube.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/flcube.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/flcube.com\/#organization","name":"Fineline Infomation and Technology","alternateName":"Fineline Info & Tech","url":"https:\/\/flcube.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/","url":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","contentUrl":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","width":2560,"height":1894,"caption":"Fineline Infomation and Technology"},"image":{"@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61566606313834"]},{"@type":"Person","@id":"https:\/\/flcube.com\/#\/schema\/person\/19ad11870d326204db8524d3c3c5e66a","name":"Fineline Cube","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","caption":"Fineline Cube"},"sameAs":["https:\/\/flcube.com"],"url":"https:\/\/flcube.com\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/flcube.com\/wp-content\/uploads\/2026\/01\/1204.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/53745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53745"}],"version-history":[{"count":1,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/53745\/revisions"}],"predecessor-version":[{"id":53748,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/53745\/revisions\/53748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/media\/53747"}],"wp:attachment":[{"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}