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On October 20, 2023, Hansoh Pharmaceutical Group Company Limited (hereinafter referred to as "Hansoh Pharma", 03692.HK): its wholly-owned subsidiary, Shanghai Hansoh BioMedical Co., Ltd. (Licensor), entered into a licensing agreement with GlaxoSmithKline Intellectual Property (No.4) Limited (Licensee). Under the agreement, GSK will be granted an exclusive global license (excluding mainland China, Hong Kong, Macao, and Taiwan) to develop, manufacture, and commercialize HS-20089.
The licensee is a wholly-owned subsidiary of GlaxoSmithKline (GSK), a global biopharmaceutical company headquartered in London, UK.
According to the terms of the agreement, Hansoh Pharma will receive an upfront payment of $85 million and is eligible to receive up to $1.485 billion in success-based milestone payments.Total transaction amount: $1.57 billion（Approximately RMB 11.5 billion，At the latest exchange rate, 1 USD ≈ 7.3164 CNY.）。
HS-20089 is a novel B7-H4-targeting antibody-drug conjugate (ADC) currently undergoing Phase I clinical trials in China for the treatment of gynecological cancers.In addition to targeting the B7-H4 surface antigen, which is overexpressed in ovarian and endometrial cancers and often associated with poor prognosis, HS-20089 also employs clinically validated ADC technology, specifically a topoisomerase inhibitor (TOPOi) payload.TOPOi is a validated mechanism of action in approved anticancer drugs and is also an acknowledged standard for the treatment of breast and ovarian cancer.After the commercialization of the product, GSK will also pay tiered royalties on global net sales outside mainland China, Hong Kong, Macao, and Taiwan.GSK Plans to Launch Phase I Clinical Trial of HS-20089 Outside China in 2024。Executive Director of Hansoh PharmaMs. Sun YuanSaid: "We are very pleased to partner with GSK to further develop HS-20089. GSK's R&D expertise and commercial footprint in developing therapies for gynecological cancers make it an ideal partner to bring HS-20089 to patients outside of China."At the beginning of 2023, there was frequent good news about Chinese-produced ADCs "going overseas." According to incomplete statistics,As of today, nearly 30 ADC products from 12 pharmaceutical companies in China have been exported overseas, with a total transaction value exceeding 26 billion US dollars.Among them, Kelun-Biotech, a subsidiary of Kelun Pharmaceutical, has particularly outstanding performance, having licensed 9 ADC products to MSD three times, with a total transaction value exceeding 11.8 billion US dollars. The total ADC licensing amounts for RemeGen, Byleaf Biopharma, and CSPC also exceed 2 billion US dollars.The main targets of ADCs going overseas are Claudin 18.2, HER2, and TROP2.Chinese ADC drugs frequently go abroad, which not only affirms the R&D strength of China's innovative pharmaceutical companies but also reflects that the license out model is becoming an increasingly popular trend for domestically produced innovative drugs to enter international markets. As one of the hottest fields in innovative drug development, ADC drugs have broad prospects, with numerous pharmaceutical companies in China successively entering the ADC sector and experiencing vigorous growth.Hansoh Pharma is a leading innovation-driven pharmaceutical company in China, with subsidiaries including Hansoh Pharmaceuticals, Changzhou Hengbang Pharmaceuticals, and Shanghai Hansoh BioMedical Co., Ltd. The company focuses on major disease treatment areas such as oncology, anti-infectives, central nervous system, metabolism, and autoimmune diseases, and is committed to improving the quality of human life through continuous innovation. To date, the company has launched seven innovative drugs, and the revenue share of innovative drugs has increased to 61.8%. Hansoh Pharma has consistently ranked among the top 100 global pharmaceutical companies and within the top three best industrial enterprises in China's pharmaceutical R&D product lines for many years. It is a key national high-tech enterprise and a national technology innovation demonstration enterprise. The company was listed on the Hong Kong Stock Exchange in June 2019 (Stock Code: 03692.HK).Hansoh Pharma Announcement
