March 4 (Reuters) - Hong Kong-listed Sino Biopharmaceutical said on Wednesday its unit has signed an exclusive global licensing deal with French drugmaker Sanofi worth up to $1.53 billion, giving the
Sino Biopharm Signs $1.53B Global Blood Cancer Drug Deal with Sanofi
Major Licensing Agreement Expands Global Access to Blood Cancer Drug
Deal Overview and Financial Terms
March 4 (Reuters) - Hong Kong-listed Sino Biopharmaceutical said on Wednesday its unit has signed an exclusive global licensing deal with French drugmaker Sanofi worth up to $1.53 billion, giving the European pharma giant rights to a blood cancer drug that won Chinese regulatory approval last month.
Exclusive Licensing and Upfront Payment
Under the agreement, Sino Biopharmaceutical's subsidiary Chia Tai Tianqing Pharmaceutical Group will grant Sanofi an exclusive worldwide licence to develop, manufacture and commercialise rovadicitinib, receiving an upfront payment of $135 million.
Milestone Payments
The company is also eligible to receive potential development, regulatory and sales milestone payments of up to $1.40 billion.
About Rovadicitinib
Mechanism of Action
Rovadicitinib is an oral drug that simultaneously targets inflammation and tissue scarring, two hallmarks of the diseases it is designed to treat.
JAK/ROCK Inhibitors
It belongs to a class of drugs known as JAK/ROCK inhibitors, which work by blocking enzymes that drive both processes.
Deal Conditions and Reporting
Regulatory Approvals
The deal is subject to customary closing conditions, including regulatory clearances, Sino Biopharmaceutical said.
Reporting Credits
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Tasim Zahid)
