Nuvectis secured worldwide rights, outside specified Asian territories, to develop, manufacture and commercialise Haisco’s drug candidates HSK42360 and HSK39297.
Haisco will receive $40m in upfront and near-term payments, with the potential for additional development, regulatory and commercial milestone payments totalling as much as $1.4bn.
The company is also eligible for tiered royalties on net sales of any resulting products. The first four milestone payments may be made by Nuvectis in a mix of cash and common stock, with the equity component capped at under 40% of the milestone value.
If Nuvectis sublicenses its rights or undergoes a change of control during a restricted period, Haisco will be entitled to appropriate sublicence income and related payments.
The agreement is subject to financing conditions intended to ensure Nuvectis can support development activities.
HSK42360, a B-raf proto-oncogene, serine/threonine kinase (BRAF) paradoxical breaker inhibitor designed to address resistance to current BRAF inhibitors, is under evaluation in a Phase I clinical trial in China.
Another drug candidate, HSK39297, a potential once-daily complement factor B (CFB) inhibitor, has two new drug applications (NDAs) submitted in China for paroxysmal nocturnal haemoglobinuria (PNH), and further clinical development for additional indications is ongoing.
Haisco CEO Dr Pangke Yan said: “This collaboration is highly aligned with our global development strategy and is expected to generate sustainable value and long-term returns.
“By partnering with a US biotechnology company such as Nuvectis, Haisco aims to accelerate the global development of innovative oncology and complement therapies and bring high-quality treatment options to patients worldwide.”