Hong Kong Biotech Firm Signs Global ADC R&D and Licensing Deal With Overseas Drug Group

A Hong Kong-listed innovative drugmaker in mainland China has signed a global R&D cooperation and licensing agreement with a research unit under a large overseas pharmaceutical group to jointly develop multiple next-generation antibody-drug conjugates, or ADCs, for oncology indications, according to Jiemian News. Under the deal, the company will receive a $45 million upfront payment and is eligible for more than $1 billion in development, regulatory and commercial milestone payments, plus tiered royalties on annual net sales of approved products. The overseas partner will obtain an exclusive global license to the ADCs generated by the collaboration and will handle subsequent clinical development and commercialization.