Qilu Pharmaceutical is paying 280 million Chinese yuan ($38 million) for a licensing and collaboration deal with fellow China biopharma Minghui Pharmaceutical.
The pact centers on MHB088C, a B7-H3-targeted antibody-drug conjugate that is in trials for solid tumors, including in subgroups of patients with small cell lung cancer and metastatic castration-resistant prostate cancer.
In fact, data from these 1/2 trials will be revealed at the upcoming American Society for Clinical Oncology conference in the next few weeks.
For its part, Qilu will pay the $38 million straight up while being on tap for 1.065 billion Chinese yuan ($139 million) in milestone payments. This will give Qilu the development, manufacturing and sales rights to MHB088C in greater China (including mainland China, Hong Kong, Macau and Taiwan).
Minghui, meanwhile, holds on to the rights to MHB088C outside greater China and will “continue advancing its development in these regions,” the company said in a Friday release.
The drug works by zeroing in on B7 homolog 3 protein (B7-H3), an antigen highly expressed in a range of solid tumors.
Coincidentally, Takeda just yesterday announced that it had axed its experimental drug TAK-280, a conditional bispecific redirected activation T-cell engager designed to bind to B7-H3.
"Our collaboration with Qilu marks a significant milestone in Minghui's commitment to advancing innovative cancer therapies," Guoqing Cao, Ph.D., CEO of Minghui, said in the release.
"MHB088C has demonstrated robust efficacy with great safety profiles, with no major hematological toxicity or ILD, positioning the program as a best-in-class B7-H3 ADC," Cao added. "With Qilu's leadership and resources, we are confident that MHB088C will serve patients in need and contribute to the advancement of precision oncology in China."