Harbour Biomed Holdings Ltd. licensed exclusive U.S. rights to B7H4 x 4-1BB bispecific immune activator HBM-7008 to Cullinan Oncology Inc. in a deal worth up to $625 million. China-based Harbour will obtain a $25 million up-front payment and is eligible to receive up to $600 million in development, regulatory and sales-based milestones, as well as tiered royalties of up to 20% on U.S. commercial sales.
Hengrui Pharmaceuticals Co. Ltd. licensed its EZH2 inhibitor, SHR-2554, to Treeline Biosciences Inc. in a deal worth more than $700 million. Treeline will be granted worldwide exclusive rights to the lymphoma drug, except for greater China, in exchange for an up-front payment of $11 million, development milestone payments of up to $45 million, and milestone payments of up to $650 million based on annual net sales once commercialization begins.
Corbus Pharmaceuticals Holdings Inc. signed a back end-loaded licensing deal worth up to $692.5 million with CSPC Megalith Biopharmaceutical Co. Ltd, a subsidiary of CSPC Pharmaceutical Group Ltd., for the latter’s Nectin-4-targeting antibody-drug conjugate CRB-701 (SYS-6002).
Zhimeng Biopharma Inc. found a global partner for its hepatitis B virus (HBV) program, licensing rights to GSK plc for CB-06, an oral small-molecule Toll-like receptor 8 agonist. Pending positive data from an ongoing phase I study, GSK will gain rights to develop, manufacture and commercialize the drug for chronic HBV infection, either for use in combination or as a sequential treatment with bepirovirsen.
In its first worldwide licensing deal in the cardiovascular space, Ji Xing Pharmaceuticals Ltd. acquired rights to preclinical-stage PB-6440, in development for diseases including hypertension, from Phasebio Pharmaceuticals Inc.
In a blow to Aussie regenerative medicine company Regeneus Ltd., Japan’s Kyocera Corp. has pulled out of a licensing deal for Regeneus’ lead mesenchymal stem cell (MSC) therapy, Progenza, for osteoarthritis of the knee for the Japan market.
Daewoong Pharmaceutical Ltd. has out-licensed greater China rights for its idiopathic pulmonary fibrosis (IPF) candidate, bersiporocin (DWN-2088), to CS Pharmaceuticals Ltd. in a deal worth up to $336 million. Bersiporocin is a prolyl-tRNA synthetase inhibitor being developed by Daewoong for IPF and potentially other fibrotic indications.
Chinese firm Hutchmed Ltd. has out licensed its targeted colorectal cancer drug fruquintinib to Takeda Pharmaceutical Co. Ltd. as it eyes growth opportunities in the U.S., Europe and Japan in a deal totaling up to $1.13 billion. Under the terms of the agreement, Tokyo, Japan-based Takeda will gain an exclusive worldwide license to develop and commercialize the drug in all indications and territories outside of mainland China, Hong Kong and Macau.
Just in time for the Chinese New Year, Mabwell Bioscience Co. Ltd. announced that its U.S. subsidiary, Mabwell Therapeutics Ltd., closed a licensing deal with Disc Medicine Inc. worth up to $412 million.
While it made a sturdy effort as biopharma companies opted for licensing deals over M&As in 2022, the year did not surpass 2021 in deal values, falling about 3.5% short. Lackluster M&A values dropped to their lowest levels in five years and were down by 35.6% compared with 2021.
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