Haisco Pharmaceutical Group has signed an exclusive licensing agreement granting US-based biotechnology company Nuvectis rights for two drug candidates in oncology and complement indications.
Nuvectis secured worldwide rights, outside specified Asian territories, to develop, manufacture and commercialise Haisco’s drug candidates HSK42360 and HSK39297.
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Haisco will receive $40m in upfront and near-term payments, with the potential for additional development, regulatory and commercial milestone payments totalling as much as $1.4bn.
The company is also eligible for tiered royalties on net sales of any resulting products. The first four milestone payments may be made by Nuvectis in a mix of cash and common stock, with the equity component capped at under 40% of the milestone value.
If Nuvectis sublicenses its rights or undergoes a change of control during a restricted period, Haisco will be entitled to appropriate sublicence income and related payments.
The agreement is subject to financing conditions intended to ensure Nuvectis can support development activities.
HSK42360, a B-raf proto-oncogene, serine/threonine kinase (BRAF) paradoxical breaker inhibitor designed to address resistance to current BRAF inhibitors, is under evaluation in a Phase I clinical trial in China.
Another drug candidate, HSK39297, a potential once-daily complement factor B (CFB) inhibitor, has two new drug applications (NDAs) submitted in China for paroxysmal nocturnal haemoglobinuria (PNH), and further clinical development for additional indications is ongoing.
Haisco CEO Dr Pangke Yan said: “This collaboration is highly aligned with our global development strategy and is expected to generate sustainable value and long-term returns.
“By partnering with a US biotechnology company such as Nuvectis, Haisco aims to accelerate the global development of innovative oncology and complement therapies and bring high-quality treatment options to patients worldwide.”
