Incyte and Jiangsu Hengrui Medicine Announce Global License Agreement
On September 2, 2015, Delaware-based biopharmaceutical company Incyte Corporation announced a global license and collaboration agreement with Jiangsu Hengrui Medicine Co., Ltd. (Hengrui), a fully integrated pharmaceutical company based in China, for the worldwide development and commercialization of SHR-1210, an investigational anti-PD-1 monoclonal antibody under development for the treatment of cancer. Wilson Sonsini Goodrich & Rosati represented Hengrui in the transaction.
Under the agreement, Incyte will acquire the exclusive development and commercialization rights to SHR-1210 worldwide—with the exception of Mainland China, Hong Kong, Macau, and Taiwan—in exchange for an upfront payment of $25 million and milestone payments of up to $770 million to Hengrui. SHR-1210 is expected to enter proof-of-concept studies for the treatment of patients with advanced solid tumors in the coming months.
According to Greg Scott, the editor of ChinaBio Today, the deal "is indicative of China's ability to truly innovate."
For more information, click here to read Incyte's press release.