Biotheus Inc., a clinical-stage biotech company focused on the discovery and development of biologics for oncology and inflammatory diseases, has entered into a collaboration agreement with Hansoh Pharmaceuticals, for Biotheus’ EGFR/MET bispecific antibody (also known as PM1080) in China, Hong Kong, Macao and Taiwan.
Under the terms of the agreement, Hansoh will be granted by Biotheus the exclusive rights to develop, commercialize and manufacture PM1080 for the treatment of cancer, and shall assume all the costs accordingly in the territory. In return, Biotheus will receive 50 million CNY ($7 million) and is entitled to receive up to ~1.4 billion CNY ($199 million) for future development, regulatory and commercialization milestones, plus tiered royalty payments based on net sales.
“We are delighted to enter into a partnership with Biotheus,” said Yun Sun, managing director of the Board at Hansoh.
“EGFR/MET bispecific antibodies are an instrumental therapeutic option for non-small cell lung cancer and other cancer indications; PM1080, based on its outstanding efficacy, safety and PK profiles in preclinical studies, has best-in-class potential for treating cancer, either alone or in combination with Hansoh’s almonertinib. Through this partnership, we believe that we will bring forth rapidly a better therapeutic option to Chinese cancer patients, by utilizing our rich experience and capabilities in the development and commercialization of oncological drugs.”
“We really appreciate Hansoh’s trust and confidence in us,” said Xiaolin Liu, co-founder, chairman and chief executive officer of Biotheus.
“Hansoh is one of the leading oncology pharmaceutical companies in China and this collaboration spurs the synergy between Hansoh’s strong development and commercialization capabilities with our rich R&D expertise at Biotheus. The partnership will expedite the development and commercialization of PM1080 in Greater China. Biotheus has robust R&D platforms with 10 programs currently undergoing phase I or II clinical development. We are proud of our current accomplishments within four years of founding Biotheus and will continue our commitment to discover innovative drugs to benefit patients.”
About PM1080
PM1080 is an EGFR/MET bispecific antibody under development at Biotheus, which owns global rights to the asset. PM1080 is currently undergoing GLP toxicity studies. Previous preclinical data has shown PM1080 is safe and efficacious, either alone or in combination with other anti-cancer agents, including EGFR TKIs.
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