Jacobio Pharma licenses cancer drug to AstraZeneca for $2 billion

Jacobio Pharma Group Co. (HKEX: 1167) announced it has entered a licensing agreement with AstraZeneca PLC for its Pan-KRAS inhibitor JAB-23E73, according to a press release statement.

Under the agreement, AstraZeneca receives exclusive development and commercialization rights outside of China, while both companies will jointly develop and commercialize the drug in China. Jacobio will receive an upfront payment of $100 million and is eligible for additional development and commercial milestone payments of up to $1.915 billion, plus tiered royalties on net sales outside of China.

AstraZeneca will handle all clinical development, regulatory submissions, and commercialization activities for JAB-23E73 outside of China. The drug targets KRAS, which the companies describe as the most frequently mutated oncogene in human cancers, present in approximately 23% of all patients.

JAB-23E73 is currently being evaluated in Phase I trials in both China and the United States, where early signs of anti-tumor activity have been observed, according to the announcement. The drug was developed using Jacobio's induced allosteric drug discovery platform and is designed to target multiple KRAS mutation subtypes.

"We are delighted to partner with AstraZeneca," said Yinxiang Wang, Chairman and Co-CEO of Jacobio Pharma. "This collaboration marks a significant step forward as we bring our world-class programs to the global stage."

Matt Hellmann, Senior Vice President of Early Oncology and Precision Medicine at AstraZeneca, stated that KRAS-mutated tumors drive unmet need for patients with pancreatic, colorectal and lung cancers.

Jacobio operates research and development centers in Beijing, Shanghai and Boston, with clinical trials conducted at over 180 sites in China, more than 30 sites in the United States, and more than 10 sites across European countries.

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