Hansoh Pharmaceuticals recently entered into a cooperation with GSK (GlaxoSmithKline), a multinational pharmaceutical company, to jointly promote the development and commercialization of antibody-drug conjugates (ADCs). The collaboration involves a wholly-owned subsidiary of Hansoh Pharmaceuticals, Shanghai Hansoh Biomedical Technology***, and Glaxosmithkline Intellectual Property (No.1).4) License agreement signed by LIMITED. Under the agreement, GSK will receive a worldwide exclusive license to develop, manufacture and commercialize HS-20093 (excluding Chinese mainland, Hong Kong, Macau and Taiwan).
This collaboration is an important milestone for Hansoh Pharmaceuticals in the field of ADC drug development. According to the agreement, Hansoh Pharmaceuticals will charge 1$8.5 billion down payment and eligible to receive up to $15$2.5 billion in milestone payments. In addition, upon commercialization of HS-20093, GSK will also pay tiered royalties on net global sales.
Notably, the deal is worth more than another deal that Hansoh Pharmaceuticals reached with GSK in October. At that time, Hansoh Pharma granted GSK an interest in HS-20089, an ADC pipeline targeting B7-H4, to GSK in the same region for an upfront payment of $85 million and a maximum milestone payment of $14$8.5 billion.
In the tide of domestic innovative drugs going overseas, the amount of this transaction is also eye-catching. As a representative of the transformation of traditional domestic pharmaceutical companies from imitation to innovation, Hansoh Pharmaceutical's innovative drug revenue has accounted for more than 60%. GSK hopes to make a breakthrough in the field of ADC through this cooperation to enhance its competitiveness in the field of oncology.
However, the market response to the partnership has not been enthusiastic. On December 21, the share price of Hansoh Pharmaceutical opened slightly higher and then rose rapidly, as of press time 13HK$320 shares, down 1144%。This may be related to GSK's setbacks in the field of oncology in recent years, including the PD-1 product Jemperli and the PARP inhibitor Zejula, which have fallen short of expectations. Despite this, GSK is still determined to lay out the ADC field and hopes to achieve a breakthrough through this round of cooperation.
Overall, the re-joining of Hansoh Pharma and GSK demonstrates the shared vision and strategic alignment of the two companies in the ADC space. With the deepening of the collaboration, we have reason to expect that this combination will make new waves in the global ADC drug market.