Jiangsu Hengrui Pharmaceuticals announced an exclusive license agreement with IDEAYA Biosciences under which IDEAYA will receive rights to develop and commercialize the novel antibody-drug conjugate program SHR-4849 worldwide outside of Greater China. SHR-4849 targets DLL3, a gene that has been reported to be expressed in multiple solid tumor types, including in small cell lung cancer and neuroendocrine tumors.
Under the license agreement, Hengrui is eligible to receive upfront and milestone payments totaling $1.045 billion, including a $75 million upfront fee, up to $200 million in development and regulatory milestone payments, and up to $770 million in commercial success-based milestones.
Hengrui is a global pharmaceutical company focused on unmet clinical needs, with headquarters in China and 14 R&D centers in Lianyungang, Shanghai, the United States and Europe. Hengrui received its first innovative drug approval in 2011 and has independently established leading technology platforms, such as its ADC platform, proteolysis targeting chimera (PROTAC), molecular gels, bi/multi-specific antibodies and AI molecular design.
The S&C team that represented Hengrui included Rachel Yu and Elizabeth Cheung. Kay Ian Ng and Yiwen Wang provided valuable assistance.