China-based Simcere Pharmaceutical Group has entered into an exclusive global licensing agreement with Ipsen for its LRRC15-targeting antibody-drug conjugate (ADC) SIM0613. Under the terms of the deal, Ipsen gains rights to develop, manufacture and commercialise the asset outside Greater China, while Simcere's subsidiary Jiangsu Simcere retains rights in mainland China, Hong Kong, Macau and Taiwan. Simcere will receive an upfront payment of USD 45 million and is eligible for up to USD 1.06 billion in development, regulatory and commercial milestone payments, plus tiered royalties on net sales.

SIM0613 is a novel ADC designed to target LRRC15, which is highly expressed on various solid tumours and cancer-associated fibroblasts but minimally present in normal cells. The candidate has demonstrated potent tumour regression in pre-clinical models by delivering cytotoxic payloads directly to cancer cells while sparing healthy tissue.

PharmCube's NextBiopharm® database shows that China's ADC out-licensing activity and value hit new records this year, with a total of USD 37.6 billion reported in valuations so far. Click here to request a free trial for NextBiopharm®.