HanAll Biopharma's 'HL161' China Business Rights Licensed from Harbor Biomed to CSPC Pharmaceutical Group
[Asia Economy Reporter Lee Gwan-joo] Harbor Biomed, which had acquired the Chinese business rights of Batoclimab (HL161) from HanAll Biopharma, announced on the 11th that it has sublicensed these business rights to NBP Pharma, a 100% subsidiary of CSPC Pharmaceutical Group in China. All existing rights of HanAll Biopharma, including milestone and royalty revenue rights, will be transferred without any changes.
Through this agreement, CSPC Pharmaceutical Group will acquire exclusive development, manufacturing, and sales rights for Batoclimab within China, including Hong Kong, Macau, and Taiwan, from Harbor Biomed. The contract is reported to include an upfront payment of 30 billion KRW (1.5 billion yuan) and total ongoing technology fees and royalties exceeding 200 billion KRW (10 billion yuan) based on sales.
Cuilong Zhang, CEO of CSPC Pharmaceutical Group, stated, “We are pleased to enter into this agreement with Harbor Biomed,” adding, “We look forward to rapidly advancing the development, manufacturing, and commercialization of the innovative drug candidate Batoclimab to provide it to patients in China.”
Seungwon Jung, CEO of HanAll Biopharma, said, “Since CSPC has strengths across the entire new drug R&D, manufacturing, and sales process in China, we expect to accelerate the clinical development and product approval of Batoclimab and expand its indications,” further noting, “We anticipate that CSPC Group’s commercialization capabilities throughout China will enable swift preparation for the product launch.”
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Batoclimab is an FcRn inhibitory antibody drug that HanAll Biopharma licensed out to Harbor Biomed in 2017. Harbor Biomed is conducting clinical trials in China for conditions including myasthenia gravis (MG), thyroid eye disease (TED), immune thrombocytopenia (ITP), neuromyelitis optica (NMO), and chronic inflammatory demyelinating polyneuropathy (CIDP). Since September last year, it has been conducting Phase 3 clinical trials for myasthenia gravis.
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