China’s Harbour BioMed has struck a deal worth more than USD1.2 billion with Solstice Oncology, a clinical-stage biotechnology company, to develop and commercialize the antibody HBM4003 outside China. Under the agreement, Harbour BioMed stands to receive USD50 million in upfront payments, USD5 million in near-term cash payments and more than USD50 million of equity in Solstice, as well as up to USD1.1 billion for additional development, regulatory and commercial milestones. The partnership reflected Harbour BioMed’s “significant reputation in the discovery and development of novel therapeutic antibodies”, said Wang Jingsong, the firm’s Founder, Chairman and CEO. “The structure goes beyond a traditional licensing transaction,” he added. “We are participating in the building of a global biotechnology company alongside experienced investors, focused on the development of HBM4003, one of our leading antibody programs.”
The company’s antibody program aimed to enable tumor-killing effects and support the development of innovative biologics for immunological and inflammatory diseases, according to a press release. Last month, Harbour BioMed increased its stake in U.S.-based Spruce Biosciences by exercising warrants granted under a licensing agreement, giving it about 3.8% of Spruce’s total outstanding shares. Analysts said the deals reflected Chinese biotech’s push for joint development with global partners. Earlier this month, Innovent Biologics, based in Jiangsu province, reached an agreement to collaborate with Eli Lilly to develop new medicines globally in oncology and immunology.
Under the agreement, Innovent would receive a USD350 million upfront payment and would be eligible to receive development, regulatory and commercial milestone payments of up to USD8.5 billion, according to its Hong Kong stock exchange filing.
Also in February, Shanghai Henlius Biotech, a unit of Fosun Pharma, reached a deal to license its home-grown cancer drug to Japan’s Eisai, which will pay USD75 million for exclusive rights to commercialize serplulimab and co-exclusive rights to develop and manufacture it in Japan. The Fosun unit is also eligible for up to USD80 million in regulatory milestones, as much as USD233 million tied to annual net sales, and double-digit royalties on future revenue. SanegeneBio, a clinical-stage biotechnology firm operating in the U.S. and China, signed a global licensing agreement with Genentech, a member of Swiss multinational Roche Group, to advance one of its experimental programs targeting disease-related genes. For up to USD1.7 billion in upfront and milestone payments, plus tiered royalties, SanegeneBio granted Genentech exclusive worldwide rights to develop and commercialize the product.
Last year, Chinese drug makers signed a record USD136 billion worth of out-licensing deals across 157 transactions, compared with 94 transactions worth USD51.9 billion in 2024, the South China Morning Post reports.
