CSPC Pharmaceutical Group (HKG:1093) agreed to grant an exclusive license for the development, manufacturing, and commercialization of a cancer inhibitor (SYH2039) to BeiGene Switzerland, a Friday Hong Kong bourse filing said.
Methionine Adenosyltransferase 2A inhibitors or MAT2A inhibitors are potentially effective treatments for various types of cancer. They work by disrupting the metabolic processes of cancer cells.
SYH2039 targets solid tumors with MTAP deletion mutation which is found in 15% of all cancer types including glioblastoma, pancreatic cancer, and non-small cell lung cancer.
The license also implies the same permissions for any subsequent pharmaceutical product that contains the SYH2039 compound.
Under the license agreement, the group will receive upfront payments amounting to $150 million, potential development milestone payments of up to $135 million, and commercialization milestone payments of up to $1.55 billion.
The group is also eligible for tiered royalties based on the annual net sales of the relevant products.
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