China-based Fosun Pharma has partnered with US biotech Expedition Therapeutics on its oral DPP-1 inhibitor XH-S004 in a deal worth up to USD 645 million, including USD 120 million upfront and milestones. The small molecule blocks neutrophil serine protease activation to reduce inflammatory damage in bronchiectasis and chronic obstructive pulmonary disease (COPD), currently in Phase II and Phase Ib trials in China respectively. No DPP-1 inhibitors are approved globally, positioning XH-S004 as a first-in-class candidate for airway diseases.

The agreement grants Expedition rights outside Greater China, while Fosun retains domestic commercialisation. Fosun has invested RMB 72 million (USD 10 million) in XH-S004's development to date. The deal follows Fosun's strategy to monetise innovative assets through partnerships, having previously licensed CAR-T therapies to European and US biotechs. Expedition plans global clinical development to capitalise on the USD 25 billion respiratory market opportunity.

According to PharmCube's NextBiopharm® database, Fosun has entered into six out-licensing deals this year alone, with USD 1.2 billion in total reported value. Click here to request a free trial for NextBiopharm®.