CSPC Megalith grants license to Radiance Biopharma for ADC

CSPC Megalith Biopharmaceutical has entered into a license agreement with Radiance Biopharma (9993: HK) for the development and commercialization of SYS6005, a recombinant anti-human receptor tyrosine kinase-like orphan receptor 1 (ROR1) antibody-drug conjugate (ADC).

Under the terms of the deal, CSPC Megalith has agreed to grant an exclusive license to the Boston-based company to develop and commercialize the product in the USA, the European Union, the UK, Switzerland, Norway, Iceland, Liechtenstein, Albania, Montenegro, North Macedonia, Serbia, Australia and Canada.

The Chinese firm, which is part of CSPC Pharmaceutical Group (HKG: 1093), will receive upfront payments of $15 million and is also eligible to receive potential development and regulatory milestone payments of up to $150 million, along with potential sales milestone payments of up to $1.075 billion, plus tiered royalties based on annual net sales of the product in the territory.