Nov 4 (Reuters) – Sino Biopharmaceutical said on Wednesday it had entered into an option and license agreement with Germany’s Boehringer Ingelheim for six preclinical oncology programs that could generate $7 billion in milestone payments.
Here are some more details:
• The Chinese drugmaker will receive $358 million in upfront and near-term payments under the deal, it said
• The deal covers six preclinical cancer programs spanning antibody-drug conjugates, which use antibodies to deliver toxic drugs directly to cancer cells, and T-cell engagers, which direct the body’s immune T-cells to attack tumours
• Sino Biopharmaceutical will lead the early development of the programs through global Phase I clinical trials
• Boehringer will have the option to obtain exclusive rights to develop, manufacture and sell the treatments after certain clinical milestones are met
• The German drugmaker can acquire rights to four programs outside mainland China, Hong Kong and Macau, and rights to the remaining two programs worldwide
• In addition to the upfront and near-term payments, Sino Biopharmaceutical is eligible for potential option exercise, development, regulatory and commercial milestone payments of $7 billion, plus up to double-digit royalties on future product sales
• The agreement is the second oncology partnership between the companies
• Boehringer did not immediately respond to a Reuters request for comment on which disease areas the programs would target
(Reporting by Kumar Tanishk in Bengaluru and Andrew Silver in Shanghai; Editing by Sonia Cheema)
