Innovent, Hua Medicine land lucrative deals
Innovation is paying off for a pair of Chinese biotechs, with both landing licensing deals for their home-grown medicines.
Diabetes-focused Hua Medicine has partnered with Bayer — the manufacturer of Glucobay — to commercialize its novel diabetes treatment dorzagliatin in China. Two months ago, the glucokinase activator cleared its Phase 3 clinical trial, bringing the therapy closer to a market approval by the end of the year. As part of the deal, Bayer will get exclusive rights to commercialize dorzagliatin in China. Hua will receive an upfront payment of about $43 million and a little over $600 million in additional payments upon achieving certain milestones.
Meanwhile, Innovent Biologics and Eli Lilly have agreed to expand their licensing agreement for Tyvyt, Innovent’s PD-1 drug. Lilly will now have exclusive rights to the drug outside of China and plans to pursue approval in the U.S. and in other markets, a statement said. In exchange, Innovent gets $29 million upfront and potentially $119 million more in development and commercial milestone payments, in addition to royalties.
Diabetes-focused Hua Medicine has partnered with Bayer — the manufacturer of Glucobay — to commercialize its novel diabetes treatment dorzagliatin in China. Two months ago, the glucokinase activator cleared its Phase 3 clinical trial, bringing the therapy closer to a market approval by the end of the year. As part of the deal, Bayer will get exclusive rights to commercialize dorzagliatin in China. Hua will receive an upfront payment of about $43 million and a little over $600 million in additional payments upon achieving certain milestones.
Meanwhile, Innovent Biologics and Eli Lilly have agreed to expand their licensing agreement for Tyvyt, Innovent’s PD-1 drug. Lilly will now have exclusive rights to the drug outside of China and plans to pursue approval in the U.S. and in other markets, a statement said. In exchange, Innovent gets $29 million upfront and potentially $119 million more in development and commercial milestone payments, in addition to royalties.
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