Zejing Pharmaceutical (688266.SH) and AbbVie reached a global strategic cooperation and licensing option agreement on the development and commercialization rights of ZG006

Zhitong Finance App News, Zejing Pharmaceutical (688266.SH) announced that the company and AbbVie Group Holdings (registered in Bermuda) (hereinafter referred to as “AbbVie”) reached a strategic cooperation and licensing option agreement for the global development and commercialization of ZG006 (Alveltamig). According to the agreement, AbbVie obtained exclusive development and commercialization rights for ZG006 (Alveltamig) outside of Greater China (including mainland China, Hong Kong Special Administrative Region, and Macau Special Administrative Region), and Ze Jing will reserve the right to develop and commercialize ZG006 in Greater China.

According to the agreement, Ze Jing will receive a down payment of $100 million, and recent milestone payments based on clinical progress and payments related to licensing options of up to $60 million; if AbbVie exercises license options, Ze Jing will also be eligible to receive milestone payments of up to US$1,075 million, and charge tiered royalties from high single digits to medium double digits for net sales of products containing ZG006 outside of Greater China.