Over 3 billion yuan! Corning Jerry and Shiyao Group Reach Cooperation on HER2 Dual-level ADC
Release time:
2024-09-29 17:30
Source:
On September 29, Corning Jerry announced that it has entered into a license agreement ("License Agreement") with Zimant Biotechnology, a wholly-owned subsidiary of CSPC, to develop, sell, promise to sell and commercialize JSKN003 (a HER2-targeted dual-site ADC) in mainland China (excluding Hong Kong, Macau or Taiwan) for the treatment of cancer-related indications.
JSKN003 is a HER2 targeting biepitope ADC that links a topoisomerase I inhibitor to the N-glycosylation site of antibody KN026 (a recombinant humanized anti-HER2 bispecific antibody) by glycosyl site-specific conjugation technology. The conjugate of click reaction had better serum stability than the conjugate of maleimide-Michael reaction. The dual-site HER2 targeting makes JSKN003 have stronger endocytosis induction and bystander killing effect, which makes it have strong anti-tumor activity in HER2-expressing tumors.
JSKN003 is currently conducting Phase I clinical studies in Australia and Phase I/II and III clinical studies in China.
Under the terms of the license agreement, Zimante Biotech will be granted exclusive license and sublicense rights to develop, sell, promise to sell and commercialize the JSKN003, and will be the sole marketing license holder for JSKN003 use in the area in the region. Zimant Biotech shall bear its own costs and expenses for clinical development activities under the license agreement. Corning Jerry will retain the exclusive right to supply JSKN003 for any purpose within or outside the Territory.
Under the license agreement, Corning Jerry is entitled to receive an advance payment and milestone payment of up to a total of RMB 3.08 billion, including an advance payment of RMB 0.4 billion, a development milestone payment of RMB 0.3 billion related to the enrollment of the first patient in a number of registered clinical trials, a regulatory milestone payment and a sales milestone payment based on the progress of regulatory approval. In addition, Corning Jerry is also entitled to receive a double-digit percentage of royalties on the net sales of JSKN003 products.
This is not the first collaboration between Corning Jerry and CSPC. In August 2021, Corning Jerry and Zinmante Bio, a wholly-owned subsidiary of Shiyao Group, signed a development and commercialization license agreement in Mainland China for Corning Jerry's self-developed anti-HER2 bispecific antibody KN026, with a total transaction amount of RMB 1 billion and a double-digit tiered sales commission.
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