In a deal worth nearly $1 billion if all milestones are met, one of the world’s largest biotech companies, Cambridge, MA-based Biogen Inc. (Nasdaq: BIIB) licensed an oral small molecule Bruton’s tyrosine kinase inhibitor (BTKi) from a startup from China called InnoCare Pharma Limited (HKEX: 09969). Called Orelabrutinib, the Chinese venture has focused to date on research targeting multiple sclerosis (MS). A covalent BTKi with high selectivity and the ability to cross the blood-brain barrier, Orelabrutinib has now entered a multi-country, placebo-controlled Phase 2 clinical trial in relapsing-remitting MS. Based on this deal, Biogen secures exclusive, worldwide rights to the investigational product along with rights to target select autoimmune diseases outside of China (including Hong Kong, Macau, and Taiwan). InnoCare secures a $125 million upfront payment along with the retention of exclusive worldwide rights to the drug in the field of oncology and select autoimmune diseases in China (including Hong Kong, Macau, and Taiwan).
TrialSite’s InvestorWatch offers a brief deal breakdown summary.
What is the flagship investigational product associated with InnoCare?
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