Junshi Biosciences, AlzeCure Pharma, and Agent Therapeutics Secure Major Licensing Deals Totaling Over $3.9 Billion

Total Amount of RMB 1.3 Billion: Junshi Biosciences and Fosun Pharmaceutical Reach Monoclonal Antibody Collaboration

On July 1, Junshi Biosciences issued an announcement stating that it andFosun PharmaceuticalThe subsidiary, Jiangsu Wanbang Biopharmaceuticals, signed the "License Agreement."

Pursuant to the license agreement, Junshi Biosciences grants Jiangsu Wanbang Biopharmaceuticals a license for rucoxibart (JS005, an anti-IL-17A monoclonal antibody) inGreater China Region(including Mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and the Taiwan region)Rights to Develop, Register, Manufacture, and Commercialize。

Toripalimab is a specific anti- antibody independently developed by Junshi BiosciencesIL-17A Monoclonal Antibody, by binding with high affinity to the IL-17A homodimer and the IL-17A/IL-17F heterodimer and selectively blocking the interaction between IL-17A and its receptor complex IL-17RA/IL-17RC, thereby inhibiting the activation of downstream signaling pathways and the release of inflammatory cytokines, effectively alleviating the symptoms of autoimmune diseases.

Currently, Nokocibaimab has beenModerate to Severe Plaque PsoriasisCompleted China Registration in Adult PatientsPhase IIIclinical studies, demonstrating excellent efficacy and safety. In the 150 mg dose group, at Week 16PASI 90 response rate reached 91%; at Week 52PASI 100 response rate reached 65%。

December 2025, Nokocibimab for the treatment ofNMPA Accepts New Drug Application for Adult Patients with Moderate-to-Severe Plaque Psoriasis Suitable for Systemic Therapy or Phototherapy。

Under the agreement, Junshi Biosciences will receive RMB215 million yuan(Tax-inclusive) non-deductible and non-refundable down payment, with eligibility for up to RMBRMB 1.125 billion(tax-inclusive) development and sales milestone payments, as well as tiered sales royalties at a double-digit percentage of net sales in the Greater China region. The product development milestone payments amount to up to RMB 180 million (tax-inclusive), and the sales milestone payments amount to up to RMB 945 million (tax-inclusive).

According to statistics from the Insight database, the domestic IL-17赛道 is already highly crowded.Currently, a total of 6 IL-17A monospecific drugs have been approved for marketing., including2 Imported Drugs, secukinumab (Novartis) and ixekizumab (Eli Lilly), and4 Domestic Drugs, gusperimus (Akeso), funacizumab (Hengrui), selicizumab (Zhixiang Jintai), and anmutaqimab (3SBio). In addition, UCB has an IL-17A/F monoclonal antibody that has already been approved for marketing in China; this drug became a "dark horse" on the global top 100 pharmaceutical sales list in 2025 with a year-on-year growth rate of 285.17%.

Total Value of $2.2 Billion: Major BD Deals Secured in the Alzheimer’s Disease Field

On July 1 local time, AlzeCure Pharma AB announced that it had entered into an out-licensing and collaboration agreement with the Danish company QuantumCell ApS, granting QuantumCell ApS AlzeCureAlzheimer's Disease PlatformNeuroRestore (including its lead candidate drug ACD856)Global Rights。

In return, AlzeCure will receive a total ofUSD 12 millionof the down payment, among which$5 millionThe direct investment in AlzeCure represents a 30% premium over the average share price of SEK 3.78 during the past 10 trading days.

In addition, the agreement includes established R&D and commercial milestone payments, as well as tiered single-digit to low double-digit percentage royalties based on sales. Excluding royalties, the total value of the transactionOver $2.2 billion。

NeuroRestore ACD856 is a small-molecule positive allosteric modulator that simultaneously regulates NGF/TrkA- and BDNF/TrkB-mediated signaling pathways (Trk-PAM), and is also used for the treatment ofPioneering Candidate Drug for Alzheimer's Disease, currently atPhase I Clinical Trialphase, preparing for the upcoming Phase II clinical trial.

Source: Corporate Website

Preclinical studies indicate that the drug canEnhance neuronal communication and improve cognitive function, including learning and memory functions, and has been confirmed to have neuroprotective, anti-inflammatory, and disease-modifying effects in various preclinical models. NeuroRestore’s unique pharmacological mechanism makes it a promising candidate for the treatment of various diseases, such asAlzheimer's Disease, Parkinson's Disease, and Depression。

Martin Jönsson, CEO of AlzeCure Pharma, stated that the out-licensing and collaboration agreement reached with QuantumCell represents another significant milestone for AlzeCure. ThisFirst-in-Class Trk-PAM Drug ProjectIndependently developed by AlzeCure from concept to clinical stages, fully demonstrating AlzeCure’s strength.

It is worth mentioning that AlzeCure Pharma had previously obtainedEli Lillyfavor. In June 2026, Eli Lilly and Company entered into a collaboration and out-licensing agreement with it regarding the Alzheimer’s disease project Alzstatin ACD680, with the total value of the transaction potentiallyOver $1 billion。

Chinese AI Drug Discovery Secures $1.6 Billion in Overseas Licensing

On June 30, Metagenomi announced the first major milestone in its strategic alliance with Deerfield Management (“Deerfield”), a global health investment and innovation platform, accelerating the global development of next-generation immunotherapies.

JiTai Technology and Boulevard Bio, a U.S. biotechnology company supported by Deerfield, have officially signed a global exclusive licensing agreement, granting Boulevard Bio the worldwide rights to develop, manufacture, and commercialize MTS-128, a tri-specific TCE (T Cell Engager) independently developed by JiTai Technology.

Under the agreement, DTx Technology will receive a $20 million upfront payment and is eligible for up to $1.6 billion in development, regulatory, and commercialization milestone payments, plus tiered sales royalties based on product sales.

The total potential value of Jitai Technology’s overseas licensing deal exceeds $1.6 billion. According to publicly disclosed information, this transaction sets a new record for the largest single upfront payment for an overseas license of a preclinical TCE project by a Chinese pharmaceutical company, marking a significant milestone in the internationalization of China’s AI-driven drug delivery innovations.

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