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Shanghai Fosun Pharmaceutical Unit Signs Up to 600-Milion-Yuan License Deal for Bispecific Antibody

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Shanghai Fosun Pharmaceutical (SHA:600196) subsidiary Yaoyou Pharmaceutical signed an exclusive license agreement with Chongqing Genrix Biopharmaceutical (SHA:688443) for bispecific antibody GR1803.

The deal includes up to 600 million yuan in upfront, milestone and technology transfer payments, plus tiered royalties, according to a Friday filing with the Shanghai bourse.

Yaoyou Pharmaceutical will act as marketing authorization holder for mainland China, Hong Kong, Macau and Taiwan.

GR1803 targets multiple myeloma and lupus.

Shares of the pharmaceutical company were up 2% in recent trade.

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