{"id":66710,"date":"2026-05-29T15:07:29","date_gmt":"2026-05-29T07:07:29","guid":{"rendered":"https:\/\/flcube.com\/?p=66710"},"modified":"2026-05-29T15:07:30","modified_gmt":"2026-05-29T07:07:30","slug":"genrix-bio-licenses-bcmaxcd3-bispecific-velinotamig-to-fosuns-yaopharma-for-greater-china-in-268m-deal","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=66710","title":{"rendered":"Genrix Bio Licenses BCMA\u00d7CD3 Bispecific Velinotamig to Fosun&#8217;s Yaopharma for Greater China in $268M Deal"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Chongqing Genrix Bio Pharmaceutical Co., Ltd.<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/quote\/688443:SHA\">SHA: 688443<\/a>) announced a <strong>licensing agreement<\/strong> with <strong>Yaopharma Co., Ltd.<\/strong>, a subsidiary of <strong>Shanghai Fosun Pharmaceutical (Group) Co., Ltd.<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/quote\/600196:SHA\">SHA: 600196<\/a>, <a href=\"https:\/\/www.google.com\/finance\/quote\/2196:HKG\">HKG: 2196<\/a>), for <strong>velinotamig (GR1803)<\/strong>, a <strong>BCMA\u00d7CD3 bispecific antibody (BsAb)<\/strong>. Under the terms, Yaopharma secures <strong>exclusive rights<\/strong> to develop and commercialize velinotamig across <strong>Greater China<\/strong> (including Hong Kong, Macau, and Taiwan), along with exclusive manufacturing rights.<\/p>\n\n\n\n<h2 id=\"h-deal-financial-structure\" class=\"wp-block-heading\">Deal Financial Structure<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Component<\/th><th>Amount (RMB)<\/th><th>Amount (USD)<\/th><\/tr><\/thead><tbody><tr><td><strong>Upfront Payment<\/strong><\/td><td>RMB 300 million<\/td><td>$44.3 million<\/td><\/tr><tr><td><strong>Development &amp; Tech Transfer Milestones<\/strong><\/td><td>Up to RMB 300 million<\/td><td>Up to $44.3 million<\/td><\/tr><tr><td><strong>Net Sales-Based Milestones<\/strong><\/td><td>Up to RMB 1.22 billion<\/td><td>Up to $180 million<\/td><\/tr><tr><td><strong>Total Potential Value<\/strong><\/td><td><strong>RMB 1.82 billion<\/strong><\/td><td><strong>$268 million<\/strong><\/td><\/tr><tr><td><strong>Royalties<\/strong><\/td><td>Tiered double-digit (high single to low double digits)<\/td><td>Based on net sales in licensed territory<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"h-drug-profile-amp-regulatory-status\" class=\"wp-block-heading\">Drug Profile &amp; Regulatory Status<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Molecule Type:<\/strong> BCMA\u00d7CD3 bispecific antibody (BsAb)<\/li>\n\n\n\n<li><strong>Indication:<\/strong> Relapsed or refractory multiple myeloma (RRMM) in adults with \u22653 prior lines of therapy<\/li>\n\n\n\n<li><strong>Regulatory Status:<\/strong> Conditional marketing application <strong>submitted and accepted<\/strong> by China&#8217;s NMPA in January 2026 with <strong>priority review designation<\/strong><\/li>\n\n\n\n<li><strong>Additional Development:<\/strong> Phase I trial in systemic lupus erythematosus (autoimmune indication) steadily advancing<\/li>\n<\/ul>\n\n\n\n<h2 id=\"h-strategic-partnership-framework\" class=\"wp-block-heading\">Strategic Partnership Framework<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Rights Category<\/th><th>Territory<\/th><th>Holder<\/th><th>Details<\/th><\/tr><\/thead><tbody><tr><td><strong>Development &amp; Commercialization<\/strong><\/td><td>Greater China<\/td><td>Yaopharma<\/td><td>Exclusive rights<\/td><\/tr><tr><td><strong>Manufacturing &amp; Process Research<\/strong><\/td><td>Greater China<\/td><td>Yaopharma<\/td><td>Exclusive rights<\/td><\/tr><tr><td><strong>Global Rights (ex-Greater China)<\/strong><\/td><td>Worldwide excluding Greater China<\/td><td>Cullinan Therapeutics<\/td><td>Licensed in June 2025 for &gt;$700M<\/td><\/tr><tr><td><strong>Royalty Stream<\/strong><\/td><td>Greater China<\/td><td>Genrix Bio<\/td><td>High single to low double-digit tiered royalties<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"h-market-context-amp-competitive-landscape\" class=\"wp-block-heading\">Market Context &amp; Competitive Landscape<\/h2>\n\n\n\n<h3 id=\"h-multiple-myeloma-therapeutic-environment\" class=\"wp-block-heading\">Multiple Myeloma Therapeutic Environment<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>High Unmet Need:<\/strong> RRMM patients with \u22653 prior lines represent difficult-to-treat population with poor prognosis<\/li>\n\n\n\n<li><strong>BCMA-Targeted Therapies:<\/strong> Emerging class including CAR-T cells, antibody-drug conjugates, and bispecific antibodies<\/li>\n\n\n\n<li><strong>China Market Dynamics:<\/strong> Rapidly growing multiple myeloma patient population with increasing access to innovative therapies<\/li>\n\n\n\n<li><strong>Regulatory Acceleration:<\/strong> Priority review designation reflects significant unmet medical need<\/li>\n<\/ul>\n\n\n\n<h3 id=\"h-competitive-bcma-bispecific-antibodies\" class=\"wp-block-heading\">Competitive BCMA Bispecific Antibodies<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Product<\/th><th>Company<\/th><th>Status in China<\/th><th>Differentiation<\/th><\/tr><\/thead><tbody><tr><td><strong>Velinotamig (GR1803)<\/strong><\/td><td>Genrix Bio\/Yaopharma<\/td><td><strong>NMPA priority review<\/strong><\/td><td>Local development with Fosun commercial backing<\/td><\/tr><tr><td><strong>Teclistamab<\/strong><\/td><td>Janssen<\/td><td>Approved globally<\/td><td>Established safety\/efficacy profile<\/td><\/tr><tr><td><strong>Elranatamab<\/strong><\/td><td>Pfizer<\/td><td>Global approval<\/td><td>Subcutaneous administration<\/td><\/tr><tr><td><strong>Other BCMA BsAbs<\/strong><\/td><td>Various Chinese biotechs<\/td><td>Early development<\/td><td>Limited late-stage data<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"h-strategic-implications\" class=\"wp-block-heading\">Strategic Implications<\/h2>\n\n\n\n<h3 id=\"h-for-genrix-bio\" class=\"wp-block-heading\">For Genrix Bio<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Capital Generation:<\/strong> $268M deal provides substantial non-dilutive funding for pipeline expansion<\/li>\n\n\n\n<li><strong>Risk Mitigation:<\/strong> Partners with Fosun&#8217;s established commercial infrastructure in Greater China<\/li>\n\n\n\n<li><strong>Global Strategy:<\/strong> Complements existing global out-license to Cullinan Therapeutics (>$700M deal)<\/li>\n\n\n\n<li><strong>Platform Validation:<\/strong> Success validates Genrix&#8217;s bispecific antibody platform<\/li>\n<\/ul>\n\n\n\n<h3 id=\"h-for-fosun-pharmaceutical-yaopharma\" class=\"wp-block-heading\">For Fosun Pharmaceutical\/Yaopharma<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Oncology Portfolio Enhancement:<\/strong> Adds late-stage BCMA bispecific to growing oncology pipeline<\/li>\n\n\n\n<li><strong>Multiple Myeloma Focus:<\/strong> Strengthens position in hematological malignancies<\/li>\n\n\n\n<li><strong>Local Manufacturing Control:<\/strong> Exclusive process rights ensure supply chain security<\/li>\n\n\n\n<li><strong>Commercial Synergies:<\/strong> Leverages existing hematology sales force and hospital relationships<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Forward-Looking Statements<\/strong><br>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.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chongqing Genrix Bio Pharmaceutical Co., Ltd. (SHA: 688443) announced a licensing agreement with Yaopharma Co.,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":66711,"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":[159,3000,893,892,877,3946],"class_list":["post-66710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","category-deals","tag-fosun-pharmaceutical","tag-genrix-biopharmaceutical","tag-hkg-2196","tag-sha-600196","tag-sha-688443","tag-yaopharma"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Genrix Bio Licenses BCMA\u00d7CD3 Bispecific Velinotamig to Fosun&#039;s Yaopharma for Greater China in $268M Deal - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"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\u00d7CD3 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.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flcube.com\/?p=66710\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genrix Bio Licenses BCMA\u00d7CD3 Bispecific Velinotamig to Fosun&#039;s Yaopharma for Greater China in $268M Deal\" \/>\n<meta property=\"og:description\" content=\"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\u00d7CD3 bispecific antibody (BsAb). 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(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\u00d7CD3 bispecific antibody (BsAb). 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(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\u00d7CD3 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.","breadcrumb":{"@id":"https:\/\/flcube.com\/?p=66710#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flcube.com\/?p=66710"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flcube.com\/?p=66710#primaryimage","url":"https:\/\/flcube.com\/wp-content\/uploads\/2026\/05\/2902.webp","contentUrl":"https:\/\/flcube.com\/wp-content\/uploads\/2026\/05\/2902.webp","width":1080,"height":608,"caption":"Genrix Bio Licenses BCMA\u00d7CD3 Bispecific Velinotamig to Fosun's Yaopharma for Greater China in $268M Deal"},{"@type":"BreadcrumbList","@id":"https:\/\/flcube.com\/?p=66710#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flcube.com\/"},{"@type":"ListItem","position":2,"name":"Genrix Bio Licenses BCMA\u00d7CD3 Bispecific Velinotamig to Fosun&#8217;s Yaopharma for Greater China in $268M Deal"}]},{"@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\/05\/2902.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/66710","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=66710"}],"version-history":[{"count":1,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/66710\/revisions"}],"predecessor-version":[{"id":66712,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/66710\/revisions\/66712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/media\/66711"}],"wp:attachment":[{"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}