Sino Biopharmaceutical Strikes USD 7 Billion Cancer Drug Deal with Germany's Boehringer Ingelheim
Bengaluru: Sino Biopharmaceutical said on Wednesday it had entered into an option and license agreement with Germany's Boehringer Ingelheim for six preclinical oncology programs that could generate USD 7 billion in milestone payments.
The Chinese drugmaker will receive $358 million in upfront and near-term payments under the deal, it said
The deal covers six preclinical cancer programs spanning antibody-drug conjugates, which use antibodies to deliver toxic drugs directly to cancer cells, and T-cell engagers, which direct the body's immune T-cells to attack tumours
Sino Biopharmaceutical will lead the early development of the programs through global Phase I clinical trials.
Boehringer will have the option to obtain exclusive rights to develop, manufacture and sell the treatments after certain clinical milestones are met
The German drugmaker can acquire rights to four programs outside mainland China, Hong Kong and Macau, and rights to the remaining two programs worldwide
In addition to the upfront and near-term payments, Sino Biopharmaceutical is eligible for potential option exercise, development, regulatory and commercial milestone payments of $7 billion, plus up to double-digit royalties on future product sales.
The agreement is the second oncology partnership between the companies.
Boehringer did not immediately respond to a Reuters request for comment on which disease areas the programs would target.
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