Wednesday, November 22, 2023
Connect Biopharma Holdings Limited (Nasdaq: CNTB) recently announced that its subsidiaries, Connect Biopharma Hong Kong Limited and Suzhou Connect Biopharma Co., Ltd., have entered into an exclusive license and collaboration agreement with Simcere Pharmaceutical Co., Ltd., a subsidiary of Simcere Pharmaceutical Group Ltd., for the development and commercialization of rademikibart in Greater China.
Connect Biopharma, expressed excitement about the strategic partnership with Simcere, citing Simcere's leading position in China's pharmaceutical landscape and their capabilities in regulatory affairs, manufacturing, clinical operations, and commercialization. The collaboration aims to advance the rademikibart program in Greater China, offering potentially more efficacious treatment options and a more convenient dosing regimen for patients.
According to the agreement, Connect Biopharma will conclude ongoing clinical trials and related analysis for rademikibart in atopic dermatitis (AD), with a new drug application submission for AD in China expected by the end of Q1 2024. Simcere gains exclusive rights to develop, manufacture, and commercialize rademikibart for all indications in Greater China, encompassing mainland China, Hong Kong, Macau, and Taiwan. Connect Biopharma retains rights in all other markets. Simcere will oversee the new drug application for AD in China and fund all future clinical studies for rademikibart in Greater China.
Simcere, expressed excitement about the agreement, highlighting rademikibart's differentiated dosing regimen and its potential in Chinese AD patients. The partnership aligns with Simcere's goal to enhance its immune diseases portfolio and provide improved therapies for Th2 inflammatory diseases.
Under the terms, Connect Biopharma will receive a ¥150 million RMB (US$21 million) upfront payment and up to ¥875 million RMB (US$120 million) upon achieving specific development and commercial milestones. Additionally, Connect Biopharma is entitled to royalties up to low double-digit percentages of net sales.
Source: globenewswire.com
