UNION therapeutics and Innovent Biologics have entered into a strategic collaboration and license agreement for the development and commercialisation of orismilast in China.
As per the agreement, UNION grants Innovent an exclusive license to research, develop and commercialise orismilast in China – including participating in and recruiting Chinese patients for potential future global studies of orismilast.
UNION will receive an upfront payment of $20 million and is further entitled to receive up to $247 million in milestone payments as well as tiered royalties on sales of orismilast in China. UNION will retain global rights for orismilast outside of China.
“We are very pleased to enter a collaboration with UNION. We have been impressed with our partner’s capability to advance the global development of orismilast and we are excited to help bring orismilast to patients in China,” said Dr. Yongjun Liu, President of Innovent.
“This collaboration further strengthens our position in autoimmune by adding a mid-stage potential best-in-class therapy into our portfolio.
“Innovent is proud to be an ideal partner for worldwide biotech and pharmaceutical companies in terms of accelerating the development and commercialisation progress of novel assets to benefit a broader patient population.”
Kim Kjøller, CEO of UNION therapeutics, added: “This agreement provides independent validation of our belief in the best-in-class potential of orismilast and expands our global footprint in an underserved market with significant potential.
“Partnering with pharmaceutical companies is core to our strategy of maximising the value of our product candidates, and we are therefore excited to enter this collaboration with an internationally recognised partner.”