Hansoh Pharmaceutical Subsidiary Enters into Exclusive Licensing Agreement with Qualex Biosciences for QX004N in Greater China

Hansoh Pharma (03692) announced that on April 24, 2024, its wholly-owned subsidiary, Hansoh (Shanghai) Health Technology Co., Ltd. (the "Licensee"), entered into a licensing agreement with Jiangsu Quanxin Biopharmaceutical Co., Ltd. ("Quanxin Bio").

Under the license agreement, the licensee has obtained an exclusive license from Quanxin Biologics to develop and commercialize the QX004N monoclonal antibody (QX004N) in China (including Hong Kong, Macao, and Taiwan). The licensee will be responsible for the research, development, manufacturing, and commercialization of all developable formulations and indications of QX004N in China. Additionally, the licensee will pay an upfront fee of RMB 75 million and potential milestone payments of up to RMB 1.032 billion related to research, regulatory, and sales-based commercialization milestones, as well as tiered royalties based on future product sales.

It is reported that QX004N is an innovative candidate drug applicable for psoriasis and Crohn's disease. As of the date of this announcement, multiple clinical studies of QX004N have been initiated, and its highest stage of development in China is Phase II clinical trials.