(RTTNews) - Simcere Pharmaceutical Group Ltd. (2096.HK, SMHGF), on Monday, announced that a subsidiary, Jiangsu Simcere Zaiming Pharmaceutical Co., Ltd., has entered into an exclusive licensing agreement with Ipsen S.A. (IPN.PA, IPSEY) for SIM0613, an LRRC15-targeting antibody-drug conjugate.
The company is eligible to receive up to $1.06 billion under the deal, comprising a $45 million upfront payment and additional development, regulatory, and commercial milestone payments.
Under the agreement, Ipsen receives exclusive global rights outside Greater China to develop, manufacture, and commercialize SIM0613.
The drug candidate was developed by Jiangsu Zaiming.
The agreement was signed on December 19 and includes tiered royalties on net sales.
Simcere Pharma is currently trading 2.29% lesser at HKD 12.810 on the Hong Kong Stock Exchange.
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