Yuhan’s subsidiary ImmuneOncia signs $500 mn license agreement with Chinese pharma

2021.04.01 10:52:54 | 2021.04.01 10:53:23

[Photo by ImmuneOncia Therapeutics, Inc.]이미지 확대

[Photo by ImmuneOncia Therapeutics, Inc.]

ImmuneOncia Therapeutics, Inc., a U.S. joint venture of South Korean pharmaceutical company Yuhan Corp., has entered into an exclusive collaboration deal with 3D Medicines Inc., a China-based biopharmaceutical company developing immuno-oncology drugs.

ImmuneOncia Therapeutics announced Wednesday that it has signed a $470.5 million exclusive license-out deal with 3D Medicines to grant the Chinese pharma license to develop, manufacture and commercialize IMC-002 in Greater China (Mainland China, Hong Kong, Macau, and Taiwan).

IMC-002 is a novel immunotherapy targeting a protein called CD47, which enables cancer cells to evade attacks from immune cells.

Under terms, ImmuneOncia will receive an upfront payment of $8 million and future development and commercial milestones of up to $462.5 million. It is also eligible to receive royalties on sales of IMC-002 in Greater China, the company said.

By Park Yun-gyun and Lee Soo-min

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]