Heidelberg Pharma and Huadong Medicine strike licensing and investment agreement
The multimillion-dollar deal focuses on potential targeted cancer treatments and makes Huadong the strategic partner in Asia for Heidelberg Pharma’s product development
In a deal worth up to USD 930 million (EUR 825 million), Heidelberg Pharma has granted China's Huadong Medicine Co. exclusive license to develop and commercialise its two lead oncology candidates HDP-101 and HDP-103 in Asia, as well as exclusive opt-in rights for two more pipeline candidates.
The licensing deal covers Heidlberg Pharma's proprietary lead candidate HDP-101 is a B-cell maturation antigen (BCMA) antibody-targeted amanitin conjugate (ATAC) for multiple myeloma and its HDP-103, which is a PSMA ATAC for metastatic castration-resistant prostate cancer. Both are in clinical development.
ATACs, unlike standard therapeutics, are characterised by improved efficacy even on dormant tumour cells, which can contribute to tumour recurrence and resistance development.
The Germany-based biopharmaceutical company will receive an upfront payment of $20 million (€17.5 million) and milestone payments of up to $449 million (€400 million), and tiered royalties for each candidate.
The oncology specialist has also granted Huadong an exclusive option for the pre-IND research candidates HDP-102 (CD37-ATAC) for non-Hodgkin's lymphoma and HDP-104 (undisclosed target) in Asia (excluding India, Japan, Pakistan, Sri Lanka) with a total deal value of up to $461 million (€410 million).
In addition, the Chinese pharmaceutical company will also become the strategic partner in Asia for Heidelberg Pharma’s product development.
As part of the investment agreement Huadong intends to make an equity investment in Heidelberg Pharma totaling €105 million, representing 35% of total shares outstanding and therefore making it the second largest shareholder (dievini Hopp BioTech holding GmbH remains largest shareholder).
Related News
-
News Pharmapack Awards 2024 Patient-Centric Design Award Winner – Dr Ferrer BioPharma
The 2024 Pharmapack Awards celebrated the best in innovation and design for the pharmaceutical packaging and drug delivery industry on January 24, 2024. -
News Women in Pharma: Minding the Gap at Pharmapack 2024
2024 marks the first year Pharmapack will host a Diversity track dedicated to bridging the gap within the pharmaceutical packaging and drug delivery sector. The track includes a panel discussion on 'Enabling Diversity in the Workplace,' focused... -
News Pharmapack Awards 2024 - Celebrating Packaging and Drug Delivery Innovation
The 2024 Pharmapack Innovation Awards ceremony celebrated the best in pharmaceutical packaging and drug delivery innovation at all levels. The awards were held on January 24, 2024 at the Paris Expo Porte de Versailles. -
News 2024 Pharma Industry Trends Outlook: Collaboration, Market Maturity, and Digital Futures
The annual CPHI Online 2024 Pharma Trends Outlook, in partnership with Arvato Systems, identifies 12 key industry trends shaping the life sciences industry in the coming year. -
News New Novo Nordisk AI hub for drug discovery to open in London, UK
Danish pharmaceutical giant Novo Nordisk will be opening an AI-based research facility in the heart of London to advance drug discovery operations. -
News BioNTech to begin mRNA vaccine manufacturing in Rwanda by 2025
German biotechnology company BioNTech has stated their intentions to begin production at their mRNA vaccine factory in Rwanda by 2025, which will mark the first foreign mRNA vaccine manufacturing site on the continent of Africa. -
News Women in Pharma: Looking back on 2023 and moving forward to 2024
In this monthly series, we interview women from across the pharmaceutical industry and supply chain to discuss the importance of gender diversity in healthcare, the workplace, and beyond. -
News CPHI Barcelona 2023: Partnering for Success – Managing Outsourcing Relationships to Optimise Manufacturing Operations
During CPHI Barcelona 2023, insightful content sessions offered attendees the chance to explore trending topics with expert speakers and panellists. Here, we summarise what the pharma industry and supply chain are talking about the most.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance