On December 20, 2024, WuXi Biologics announced that Nasdaq listed biotechnology company Aadi Biosciences had reached a cooperation agreement with WuXi Biologics and Duoxi Biologics to jointly develop three new generation ADC drugs in the preclinical stage, using WuXi Biologics' antibody discovery technology platform and Duoxi Biologics' linker payload technology. Aadi Biosciences paid a prepayment of $44 million, a development milestone of $265 million, a commercial milestone of $540 million, and a single digit sales share to WuXi Biologics and Duoxi Biologics, with a total agreement amount of $849 million.

Affected by this news, the stock price of Aadi Biosciences surged 63% after trading. Aadi Biosciences had long focused on drug development in the mTOR pathway. Aadi Biosciences' sirolimus albumin received FDA approval for marketing in 2021, with cumulative sales of $45 million in the first half of this year.

As of the end of June this year, Aadi Biosciences had a total of $78.6 million in cash and short-term investments on its books. The advance payment for this cooperation with WuXi Biologics and Duoxi Biologics was $44 million, indicating that it has placed almost all its resources in the ADC direction.

In recent years, Chinese innovative drugs have become high-quality assets that European and American MNCs and biotech companies are competing to introduce. At the same time, this cooperation has expanded from products to technology, with more and more early pipeline and technology introductions emerging.

Source: https://pharm.jgvogel.cn/c1475160.shtml