Simcere Pharmaceutical (02096) Subsidiary Enters into Overseas License Option Agreement with AbbVie for SIM0500

SmartCom Finance APP News, Simcere (02096) announced that on January 13, 2025, its subsidiary, Shandong Simcere Biopharmaceutical Co., Ltd. (Shandong Simcere), entered into a license option agreement with a subsidiary of AbbVie Inc. (stock code: ABBV). According to the terms of the agreement, AbbVie will have the optional licensing rights for the investigational new drug candidate SIM0500. SIM0500 is currently undergoing Phase I clinical trials in China and the United States for patients with relapsed or refractory multiple myeloma (MM).

According to the terms of the agreement, the group will receive an upfront payment from AbbVie, as well as optional rights payments and milestone payments totaling up to $1.055 billion. The group will also receive tiered royalties based on the product's net sales outside the Greater China region. AbbVie has the right to collect tiered royalties on net sales in the Greater China region.