In recent years, antibody-drug conjugates (ADCs), known as "magic bullets", have been very popular in the global pharmaceutical market. As a precision chemotherapy product, it is expected to replace the existing huge chemotherapy drug market. Especially in 2024, the research and development of ADC drugs ushered in an explosive period, and the number of research and development pipelines and related transactions grew rapidly. At present, this wave of enthusiasm has not cooled down.

Before the market opened today (February 19), Shijiazhuang Pharmaceutical Group issued an announcement announcing that its subsidiary Shijiazhuang Pharmaceutical Group Jushi Biopharmaceutical Co., Ltd. (hereinafter referred to as "Shijiazhuang Jushi") and Radiance Biopharma, Inc. (hereinafter referred to as "Radiance Biopharma") have entered into an exclusive licensing agreement for the development and commercialization of the Group's recombinant anti-human receptor tyrosine kinase-like orphan receptor 1 (ROR1) antibody-drug conjugate SYS 6005 in multiple regions.

The specific regions include 13 regions including the United States, the European Union, the United Kingdom, Switzerland, Norway, Iceland, Liechtenstein, Albania, Montenegro, North Macedonia, Serbia, Australia and Canada. According to the agreement, CSPC Pharmaceuticals will receive a down payment of US$15 million and is entitled to receive potential development and regulatory milestone payments of up to US$150 million and potential sales milestone payments of up to US$1.075 billion.

CSPC Pharmaceuticals can also receive tiered sales commissions calculated based on the annual net sales of the product in each region. In other words, if the agreement is implemented smoothly, CSPC Pharmaceuticals is expected to receive a total revenue of more than US$1.2 billion. As of today's close, CSPC Pharmaceuticals closed at HK$4.88, up 1.04%.

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