Chinese ADC Biotech Firm Secures $7 Billion BD Deal for EGFR/cMet Bispecific ADC HS-20117/PM1080

Mar 17, 2024 07:30 CST Updated 07:30

Hansoh Pharma

Pharmaceutical Research, Production, and Sales

BioNTech

Developer of Novel Biologics

On the evening of March 14, Hansoh Pharma, a Hong Kong Stock Exchange-listed company, revealed that its wholly-owned subsidiary had signed an agreement with Pumic Biotechnology (Zhuhai) Co., Ltd. ("Pumic"), obtaining exclusive rights to develop, manufacture, and commercialize the introduced bispecific ADC (Antibody-Drug Conjugate) product HS-20117/PM1080 globally.

Under the license agreement, Hansoh Pharma will obtain an exclusive license from Primus to develop, manufacture, and commercialize PM1080/HS-20117 for ADC products worldwide, with the right to further sublicense.

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

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

This collaboration represents a further in-depth cooperation regarding this pipeline based on the previous agreement reached by both parties: expanding the scope of cooperation from Greater China to the globe.

At the end of 2022, Hansoh Pharma reached an exclusive cooperation and licensing agreement with Promab for the development and commercialization of PM1080 in Greater China (including mainland China, Hong Kong, Macao, and Taiwan).

Under the terms of the agreement, Hansoh Pharma will obtain exclusive rights to develop and commercialize PM1080 in Greater China and will bear the corresponding costs. Primus will receive an upfront payment of 50 million RMB, as well as potential development, registration, and sales-based commercial milestone payments of up to 1.418 billion RMB, along with tiered royalties based on net sales.

Primus Bio is a new and innovative Biotech company in China, registered and established in 2018. It has new drug research and development centers in Zhuhai, Suzhou, and Hong Kong. The company is advancing more than 20 Class 1 biological new drug projects, with several new drug projects currently in the clinical research stage.

Although it was founded not long ago, Primus has successfully built its pipeline and even reached a pipeline collaboration with BioNTech, a global emerging pharmaceutical giant, in 2023.

In November 2023, Primus announced a licensing and collaboration agreement with BioNTech for its self-developed anti-PD-L1/VEGF bispecific antibody (PM8002).

Under the terms of the agreement, BioNTech will obtain the rights to develop, manufacture, and commercialize PM8002 globally (excluding Greater China), while Primus will receive an upfront payment of US$55 million, as well as development, regulatory, and commercial milestone payments exceeding US$1 billion, along with tiered sales royalties. The completion of this agreement will be subject to customary closing conditions, including approval under the Hart-Scott-Rodino ("HSR") Antitrust Improvements Act.

PM8002 is a bispecific antibody candidate, composed of a humanized anti-PD-L1 single-domain antibody (VHH) fused to an anti-VEGF-A IgG1 antibody containing Fc-silencing mutations. By enriching the PM8002 molecule in the tumor environment through PD-L1, it reduces systemic side effects caused by the global blockade of VEGF.

Currently, PM8002 is undergoing Phase II clinical trials in China, and the available clinical data indicates that PM8002 demonstrates favorable safety and encouraging anti-tumor efficacy.

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