By Adria Calatayud

Germany's Merck KGaA has entered into a partnership to license a cancer drug developed by China's Jiangsu Hengrui Pharmaceuticals for up to 1.4 billion euros ($1.48 billion).

Merck said Monday that the collaboration with Hengrui gives it an exclusive license outside of China to develop, manufacture and commercialize Hengrui's drug candidate HRS-1167 as well as an option to license, also outside of China, Hengrui's antibody-drug conjugate SHR-A1904. Merck also has the option to co-promote both assets in China, it said.

Hengrui will get EUR160 million upfront and will receive payments for the achievement of certain development, regulatory and commercial goals as well as tiered royalties on net sales by Merck, with total potential payments capped at EUR1.4 billion, the German life-sciences and electronics group said.

Merck said the collaboration strengthens its oncology pipeline, as HRS-1167 has shown encouraging signs of clinical activity and patient benefit in early-stage trials as a monotherapy. The drug has higher potential to combine with chemotherapy and novel agents, Merck said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

October 30, 2023 04:44 ET (08:44 GMT)

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