Hansoh Pharma (03692.HK) Jumps Nearly 4% on Licensing Deal with Roche for CDH17-Targeting ADC HS-20110, Eligible for Up to $1.45B in Milestone Payments

According to the Zhitong Finance APP, Hansoh Pharma (03692) opened nearly 4% higher. As of the time of writing, it rose by 3.92%, trading at HK$37.14, with a turnover of HK$4.6054 million.

On the news front, Hansoh Pharma announced that on October 16 (after trading hours), its wholly-owned subsidiaries, Shanghai Hansoh BioMedical Co., Ltd. and Changzhou Humon Pharmaceutical Co., Ltd. (collectively referred to as the "Licensor"), entered into a licensing agreement with F. Hoffmann-La Roche Ltd (the "Licensee"). Under the licensing agreement, the Licensor will grant the Licensee an exclusive global license (excluding mainland China, Hong Kong, Macao, and Taiwan) for the development, production, and commercialization of HS-20110 (the Product). The Licensor will receive an upfront payment of US$80 million and is eligible to receive milestone payments of up to US$1.45 billion based on the Product’s development, regulatory approval, and commercialization progress, as well as tiered royalties on future potential product sales.

The Licensee is a subsidiary of Roche Holding AG (Roche), which is listed on the SIX Swiss Exchange. Founded in Basel, Switzerland, in 1896, Roche is one of the earliest industrial manufacturers of branded pharmaceuticals and has since grown into a global leader in biotechnology and in vitro diagnostics. The Board believes that entering into this licensing agreement is in the best overall interests of the Company and its shareholders.