On the evening of November 19th, Junshi Biotechnology announced that it had signed a license agreement with the licensor. The licensor granted Junshi Biological the exclusive license right and sub license right to develop, manufacture, use, import, export, sell and commercialize the two double target fusion proteins in the Greater China region (including the Chinese Mainland, Hong Kong, Macao and Taiwan regions). At the same time, Junshi Biological and the licensor enjoy all the rights and interests to develop, manufacture, use, import, export, sell and commercialize one of the licensed products in the world in accordance with the equity ratio of 50%: 50%. After the signing of the license agreement, Junshi Biotechnology will make a down payment of 1.5 million US dollars (approximately 10.86 million RMB) to the licensor. Junshi Biotechnology will pay a milestone payment of no more than RMB 740 million to the licensor based on the progress of licensed product development and sales.

According to the announcement from Junshi Biotechnology, the target of this transaction is two dual target fusion proteins (i.e. licensed product 1 and licensed product 2), mainly used for the treatment of malignant tumors. Currently, licensed product 1 is in the international phase 1 clinical trial stage. Junshi Biotechnology has submitted an application for the phase 1 clinical trial of licensed product 1 to the NMPA in China, while licensed product 2 is in the preclinical research stage.

Source: https://pharm.jgvogel.cn/c1463838.shtml