15 November 2022 | News
For developing and manufacturing PM1080 for the treatment of cancer
Image credit: shutterstock
Biotheus Inc., a clinical-stage biotech company focused on the discovery and development of biologics for oncology and inflammatory diseases, has entered into a collaboration agreement with Hansoh Pharmaceuticals, for Biotheus' EGFR/MET bispecific antibody (also known as PM1080) in Greater China, including Mainland China, Hong Kong, Macao and Taiwan.
Under the terms of the agreement, Hansoh will be granted by Biotheus the exclusive rights to develop, commercialise and manufacture PM1080 for the treatment of cancer, and shall assume all the costs accordingly in the territory.
In return, Biotheus will receive 50 million CNY and is entitled to receive up to ~1.4 billion CNY for future development, regulatory and commercialisation milestones, plus tiered royalty payments based on net sales.
Yun Sun, Managing Director of the Board at Hansoh said, "EGFR/MET bispecific antibodies are an instrumental therapeutic option for non-small cell lung cancer and other cancer indications; PM1080, based on its outstanding efficacy, safety and PK profiles in preclinical studies, has best-in-class potential for treating cancer, either alone or in combination with Hansoh's almonertinib. Through this partnership, we believe that we will bring forth rapidly a better therapeutic option to Chinese cancer patients, by utilising our rich experience and capabilities in the development and commercialisation of oncological drugs."
Xiaolin Liu, Co-founder, Chairman and Chief Executive Officer of Biotheus said, "The partnership will expedite the development and commercialisation of PM1080 in Greater China. Biotheus has robust R&D platforms with 10 programmes currently undergoing phase I or II clinical development."