Fosun's Henlius said in talks with J&J, Roche on promising cancer drug HLX43

September 16, 2025 – According to a Bloomberg report citing multiple informed sources, Shanghai Henlius Biotech ("Henlius"), a subsidiary of Fosun Pharma, is engaged in advanced negotiations with multinational pharmaceutical giants including Johnson & Johnson and Roche regarding the overseas rights to an innovative investigational anti-tumor drug.

Image: Bloomberg Screenshot

If an agreement is ultimately reached, Henlius is expected to receive an upfront payment in the "hundreds of millions of U.S. dollars" range, followed by substantial milestone payments during subsequent development, regulatory approval, and commercialization stages.

Although the official announcement did not disclose the specific asset involved, comprehensive analysis of the company’s publicly disclosed pipeline and industry speculation suggests that the subject of this MNC "bidding war" is most likely HLX43 – a PD-L1 ADC currently in Phase I clinical trials.

Previously released Phase Ib results showed an objective response rate (ORR) of 37.0% and a disease control rate (DCR) as high as 87.0%. Among 26 patients with non-squamous carcinoma who had received three or more prior lines of therapy, the ORR remained at 46.2%, with a DCR reaching 96.2%. Meanwhile, among 28 squamous carcinoma patients who had undergone four or more prior lines of treatment, the ORR was 28.6%, and 82.1% of patients achieved effective disease control.