Simcere Pharmaceutical (02096) Receives $40 Million Milestone Payment from AbbVie under Overseas Option Agreement for SIM0500

Zhitong Finance APP reported that Simcere (02096) announced that its subsidiary has entered into an overseas licensing option agreement with a subsidiary of AbbVie Inc. regarding the investigational new drug candidate SIM0500. According to the terms of the agreement, Simcere will receive an upfront payment from AbbVie, as well as optional rights and milestone payments of up to $1.055 billion. Additionally, both parties have agreed to receive tiered royalties based on net sales. The Board of Directors of the Company is pleased to announce that following the receipt of the upfront payment under this agreement, the Group has recently received an additional payment of $40 million from AbbVie. This payment reflects the positive progress in the collaboration between Simcere and AbbVie to advance the clinical development of SIM0500.

SIM0500 is a humanized GPRC5D-BCMA-CD3 trispecific antibody developed by the group through its proprietary T-cell engager multispecific antibody technology platform. The molecule combines a low-affinity yet highly targeted CD3 antibody with two tumor-associated antibodies: anti-G protein-coupled receptor class C group 5 member D (GPRC5D) and anti-B cell maturation antigen (BCMA). SIM0500 demonstrates potent T-cell cytotoxic effects against MM cells through multiple anti-tumor mechanisms.