Boehringer Ingelheim GmbH has signed a licensing deal potentially worth more than $7 billion with China's Sino Biopharmaceutical Limited and its subsidiaries for experimental cancer treatments. Sino will receive $358 million in upfront and near-term payments, and is eligible for potential milestone payments of $7 billion, as well as up to double-digit royalties on future product sales, the companies said in a statement Wednesday.
The deal covers six preclinical biologic programs spanning antibody-drug conjugates, often described as "smart chemotherapy," and T-cell engagers, which are designed to activate and direct immune cells to kill cancer cells. The partnership underscores closely held Boehringer's ambition to rebuild its oncology business after returning to the field following roughly a decade.
Boehringer's marketed oncology products include the lung cancer treatment Hernexeos, and it is also testing a candidate called obrixtamig in late-stage studies. It marks the second partnership between the two companies. Sino will carry out early development, and if clinical milestones are reached, Boehringer may exercise options for exclusive development, manufacturing and commercialization rights outside mainland China, Hong Kong and Macau for four programs, and worldwide for the remaining two programs.
Boehringer is Germany's biggest drugmaker by pharma sales, ahead of Bayer AG. The company is also preparing for a potential regulatory filing for survodutide, an experimental obesity drug.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing