SHANGHAI, Dec 5 (Reuters) – China’s Sichuan Kelun-Biotech Biopharmaceutical (6990.HK) said Thursday night it would license an experimental cancer treatment out to U.S. drugmaker Crescent Biopharma, receiving $80 million upfront, up to another $1.25 billion if milestones are met, and tiered royalties on net sales.
The licensed drug candidate, SKB105, is being evaluated for usage against solid tumours. It is expected that clinical trials will begin in the first quarter of 2026.
The agreement covers the research, development, manufacturing and commercialisation of the drug. Crescent has been granted a global licence, excluding mainland China, Hong Kong, Macau and Taiwan.
Kelun-Biotech said it will also license an experimental cancer treatment, CR-001, from Crescent. That licence will cover mainland China, Hong Kong, Macau and Taiwan.
Jefferies analysts wrote in a note that the Kelun-Biotech and Crescent deal would allow the U.S. drugmaker to generate novel data at an accelerated pace.
Kelun-Biotech develops innovative biological and small molecule drugs in areas including solid tumors and metabolic diseases. Four key innovative Kelun-Biotech drug projects have been approved for marketing, Kelun-Biotech said.
(Reporting by Andrew Silver; Editing by Stephen Coates)
