Changchun High-Tech's GenSci licenses ALK's dust mite allergy pipeline with nearly RMB 300 million upfront payment

On September 17, Changchun High-tech Industry (Group) Inc. (000661.SZ) announced that its subsidiary Changchun GeneScience Pharmaceutical Co., Ltd. ("GenSci") has entered into an allergen-specific immunotherapy (AIT) product collaboration with ALK-Abelló A/S ("ALK"). The partnership will focus on the joint development and commercialization of ALK's house dust mite allergen-specific immunotherapy products in China. GenSec has also secured exclusive distribution rights for three products independently developed by ALK within Mainland China (referred to as the "Collaboration Territory").

Among the three products are two allergen-specific immunotherapy (AIT) products and one skin prick test kit for mite allergen detection—the Mite Allergen Skin Prick Test Kit (Anci®), which is already marketed in China. The AIT products include the House Dust Mite Allergen Extract (Alutard SQ®) already sold in China, and the Dust Mite Allergen Sublingual Tablets (ACARIZAX®). The latter is the world’s first sublingual immunotherapy tablet approved for allergic asthma and allergic rhinitis, having received marketing authorization from regulatory agencies in Europe, the U.S., Russia, Australia, Japan, Singapore, South Korea, and other countries and regions. It is currently available in the Greater Bay Area of China and the Boao Lecheng International Medical Tourism Pilot Zone in Hainan, while a Phase III bridging registration study is simultaneously underway in China.

Under the agreement, GenSci will obtain exclusive rights for ALK's three products in Mainland China, with the collaboration term lasting until December 31, 2039. In return, GenSci will make an upfront payment of €32.7 million. For ACARIZAX®, which is still under development, GenSci will subsequently pay regulatory milestones totaling €40 million and bear the majority of costs for the Phase III bridging clinical studies and registration of adult and adolescent indications. The two parties will equally share 50% of the clinical study and registration costs for pediatric indications. Additionally, depending on the future sales performance of these products in the Chinese market, GenSci may pay sales milestones of up to €105 million. GenSci will be responsible for market promotion and sales-related expenses, while ALK will handle production and supply. GenSci will take over the sales and marketing activities of ALK's already commercialized collaboration products in China starting October 1, 2025.

Changchun High-tech stated in the announcement that ALK is the world's largest desensitization therapy company, holding a global market share of over 45%. The collaboration products will deeply synergize with GenSci's pediatric business, helping the company build competitive advantages in new pediatric areas beyond its core focus on growth hormones.

According to earlier announcements, Changchun High-tech's performance downturn persisted in the first half of this year. The company reported revenue of RMB 6.603 billion, down 0.54% year-on-year, with net profit attributable to shareholders of RMB 983 million, plunging 42.85% year-on-year. Notably, its subsidiary GenSci generated revenue of RMB 5.469 billion, up 6.17% year-on-year, while net profit attributable to shareholders stood at RMB 1.108 billion, reflecting a significant decline of 37.35% year-on-year.