Hansoh Pharma Inks Up to RMB 5 Billion Deal to In-license Bispecific ADC HS-20117/PM1080 from Primis Biotech Following Multiple High-Value Out-Licensing Agreements

　　【Pharmaceutical Network Enterprise NewsOn the evening of March 14, Hansoh Pharma announced that the company had authorized the introduction of a bispecific ADC (antibody-drug conjugate) product, HS-20117/PM1080, from Prime Medicine Biotech (Zhuhai) Co., Ltd. for no more than 5 billion yuan.
 

It is reported that PM1080/HS-20117 is a 1+1 heterodimeric EGFR/cMet bispecific antibody, which inhibits tumor growth and survival by specifically targeting the tumor antigens EGFR and cMet. It is currently in Phase I clinical research.
 

This collaboration builds on the initial partnership between the two parties in early 2022, further expanding their strategic cooperation. The scope of cooperation will extend from Greater China to the global market. Under the licensing agreement, Hansoh Pharma will obtain a license from Primus Pharmaceuticals to develop, manufacture, and commercialize HS-20117/PM1080 for ADC products worldwide, with the right to further sublicense.
 

As a result, Primus will receive an upfront payment from Hansoh Pharma, as well as potential milestone payments based on the development, registration, and commercialization of ADC products based on sales, totaling no more than 5 billion yuan, along with tiered royalties based on global net sales.
 

Notably, since 2023, Hansoh Pharma has been highly active in the ADC field. In addition to the recent introduction of an ADC drug, last year the company granted multiple significant external licenses.
 

On December 20, 2023, Hansoh Pharma and GSK jointly announced that they had reached a licensing agreement for HS-20093 (B7-H3 ADC), a product independently developed by Hansoh Pharma. According to the agreement, Hansoh Pharma will grant GSK global development, production, and commercialization rights for HS-20093 (excluding mainland China, Hong Kong, Macao, and Taiwan). Hansoh Pharma will receive an upfront payment of $185 million and is eligible to receive milestone payments of up to $1.525 billion upon the achievement of certain events related to the product. After the product's commercialization, GSK will also pay tiered royalties on global net sales outside mainland China, Hong Kong, Macao, and Taiwan. Public information indicates that this ADC product is currently in phase II clinical trials.
 

In October 2023, Hansoh Pharma announced an $85 million upfront payment and up to $1.485 billion in milestone payments for the global license (excluding mainland China, Hong Kong, Macao, and Taiwan) of HS-20089 (B7-H4 ADC) granted to GSK. This is mainly to develop its potential in gynecological cancers such as ovarian cancer and endometrial cancer. Reportedly, this ADC product is also in Phase II clinical trials.
 

Public information shows that, including the authorized products recently introduced, Hansoh Pharma currently has at least four ADC products in its pipeline, although all are still in the early stages of development.
 

It is worth mentioning that, in terms of the ADC track, the competition within this track is intensifying. Between 2019 and 2023 alone, a total of 10 ADC products were successively approved for marketing. Currently, there are 15 ADC products on the global market, seven of which have been launched in China. Additionally, four ADC drugs are undergoing new drug application (NDA).
 

Another set of statistics shows that, as of January 2024, there are already 324 ADC projects globally in clinical stages, with the majority still in early clinical phases. Among them, 187 projects are in the early phase I clinical stage, accounting for a high proportion of 58%. The main targets are concentrated on HER2, EGFR, CLDN18.2, TROP2, c-Met, etc. In China, ADC research and development is also in full swing, with a total of 129 ADC projects (including products from overseas companies) in clinical stages. Among these, 24 products have entered phase II/III or phase III, accounting for 18.60%, and another five products are in the application stage for marketing.
 

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