SUZHOU, China, Sept. 30, 2024 /PRNewswire/ -- Alphamab Oncology (stock code: 9966 HK) announced that Jiangsu Alphamab Biopharmaceuticals Co., Ltd. ("Alphamab"), a wholly-owned subsidiary of Alphamab Oncology ("the Company"), entered into a licensing agreement (the "Licensing Agreement") on anti-HER2 bispecific antibody-drug conjugate (ADC) JSKN003 with JMT-Bio Technology Co., Ltd. ("JMT-Bio"), a wholly-owned subsidiary of CSPC Pharmaceutical Group Co., Ltd. ("CSPC") (stock code: 1093.HK).
According to the terms of the Licensing Agreement, JMT-Bio will obtain the exclusive license and sublicense rights to develop, sell, offer for sale and commercialize JSKN003, for the treatment of tumor-related indications (the "Field") in mainland China (excluding Hong Kong, Macau or Taiwan) (the "Territory") and become the sole marketing authorization holder for JSKN003 for the Field in the Territory. JMT-Bio shall bear at its own costs and expenses for the clinical development activities under the Licensing Agreement. Alphamab retains the sole right to supply JSKN003 for any purpose within or outside the Territory.
According to the Licensing Agreement, the Company is entitled to receive upfront payment and milestone payments of up to RMB 3.08 billion in total, including an upfront payment of RMB 400 million, a development milestone payment of RMB 300 million related to enrollment of the first patient for multiple registration trials, and regulatory milestone payments based on regulatory approval progress and commercial milestone payments. In addition, the Company is also entitled to receive a double-digit percentage of royalties on net product sales of JSKN003.
JSKN003 is an anti-HER2 bispecific antibody-drug conjugate (bis-ADC), which is developed inhouse with Alphamab's proprietary Glycan-specific conjugation platform. Compared with its ADC counterparts, JSKN003 demonstrated better serum stability and stronger bystander effect, which effectively expands the therapeutic window. Multiple clinical data presented at several international academic conferences demonstrated favorable tolerability and safety profile, with promising efficacy of JSKN003 in heavily pretreated patients with advanced solid tumors.
About JSKN003
JSKN003 is an anti-HER2 bispecific antibody-drug conjugate (bis-ADC), which is developed inhouse with Alphamab's proprietary Glycan-specific conjugation platform. Compared with its ADC counterparts, JSKN003 demonstrated better serum stability and stronger bystander effect, which effectively expands the therapeutic window. Multiple clinical studies of JSKN003 are currently being conducted in Australia and China, and we are also actively making the progress in its pivotal clinical trial in advanced HER2 low-expression breast cancer in China.
About JMT-Bio and CSPC
JMT-Bio is a wholly-owned subsidiary of CSPC, which is a national innovative company with strong capabilities in research and development, manufacturing and marketing innovative drugs. CPSC, listed on the Hong Kong Stock Exchange (stock code: 1093.HK), was selected as a constituent stock of the Hang Sang Index in 2018 and was the first constituent stock in the pharmaceutical sector since the launch of the index. Currently, it is one of the constituent stocks of Hang Seng Composite Index, Hang Seng Healthcare Index, Hang Seng Mainland Healthcare Index, Hang Seng Stock Connect Index, Hang Seng (Hong Kong-listed) 100 Index and Hang Seng China Enterprise Index. CSPC has a national top research and development team with research and development bases in Shijiazhuang, Shanghai, Beijing and the United States, focusing on the discovery, research and development of small molecule targeted drugs, nano-drugs, monoclonal antibody drugs, bispecific antibody drugs, ADCs and biological drugs in the immune field.
About Alphamab Oncology
Alphamab Oncology is a leading biopharmaceutical company committed to the development, manufacturing, and commercialization of cutting-edge biotherapeutics for the treatment of cancer. On December 12, 2019, the company was successfully listed on the Main Board of the Hong Kong Stock Exchange, trading under the stock code 9966.
Our integrated platform seamlessly combines research, development, and manufacturing capabilities for biologics. We take pride in our extensive intellectual property portfolio, which encompasses protein/antibody engineering, antibody screening, and multi-module/multi-functional antibody modification.
Distinguished by a globally competitive pipeline, Alphamab Oncology specializes in antibody-drug conjugation, single domain antibody, and multi-functional antibodies. Notably, Envafolimab, the world's first subcutaneously injectable PD-L1 inhibitor, was approved by Chinese authorities in 2021, making a significant breakthrough in the convenience and accessibility of cancer treatment. Three assets are currently undergoing Phase III or pivotal clinical trials, and several other new drug candidates are in early clinical stage.
Our overarching mission is to make cancer manageable and curable by addressing unmet clinical needs in oncology. Alphamab Oncology is dedicated to the development of safe, effective and affordable drugs, leveraging a global competitive edge.