CQ Pharma's Unit Yaopharma Inks $2.6B License Deal for Genrix's Blood Cancer Drug GR1803

CHONGQING, May 28, 2026 — A high-stakes licensing deal is set to expand access to a promising new blood cancer treatment in China, as Yaopharma Co., Ltd., an affiliate of C.Q. Pharmaceutical Holding Co., Ltd., has obtained exclusive rights to Genrix Biopharmaceutical's bispecific antibody drug GR1803 (velinotamig) for the Chinese market.

Under the terms of the agreement, Yaopharma will hold sole rights to develop, manufacture and commercialize the drug across mainland China, Hong Kong, Macau and Taiwan, covering all human diagnostic, preventive and therapeutic uses. The company will also serve as the Marketing Authorization Holder (MAH) for the product in the licensed territories.

GR1803, also known as velinotamig, is a bispecific monoclonal antibody designed to simultaneously bind to BCMA and CD3 antigens, redirecting cytotoxic T cells to BCMA-expressing cancer cells. The drug features high affinity for BCMA and low affinity for CD3, with a BCMA affinity two orders of magnitude higher than that for CD3. This design enables targeted T-cell recruitment and activation while minimizing non-specific activation and reducing CD3-mediated toxicity.

The therapy has made steady progress in regulatory review. It received clinical trial approval from the National Medical Products Administration (NMPA) in December 2022 for multiple myeloma, was included in the Breakthrough Therapy Designation list by the Center for Drug Evaluation (CDE) in August 2024, and its conditional new drug application (NDA) was accepted and granted Priority Review status in January 2026. The drug is currently under NDA review.

Under the licensing agreement, Yaopharma will pay Genrix a total of up to 1.82 billion yuan ($250 million), including a 300 million yuan upfront payment, a 250 million yuan regulatory milestone payment, up to 50 million yuan in technology transfer milestones, and up to 1.22 billion yuan in sales-based milestones. Genrix will also receive tiered royalties ranging from high single-digit to low double-digit percentages of net sales, subject to adjustment mechanisms.

C.Q. Pharmaceutical Holding said the deal aims to leverage the strengths of both parties in clinical development, manufacturing and commercialization, further enriching Yaopharma's hematologic oncology pipeline and strengthening its competitiveness in the blood cancer treatment space.