Shanghai Henlius Biotech (HKG:2696) agreed to license its anti-cancer injection HLX15 to Dr. Reddy's Laboratories (NSE:DRREDDY, BOM:500124) in the US and 42 European countries.
HLX15 is a recombinant anti-CD38 fully human monoclonal antibody injection and a daratumumab biosimilar developed by the company. It is indicated for treating multiple myeloma.
Under the agreement, Dr. Reddy's Laboratories is granted the license to manufacture and commercialize HLX15 in subcutaneous and intravenous forms across 43 markets.
Dr. Reddy's Laboratories will make an upfront payment of $33 million, plus $98.6 million in milestone payments and 8% of the annual net sales as royalties, a Thursday Hong Kong bourse filing said.
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