Adlai Nortye Announces An Exclusive Licensing Agreement With ASK Pharm For Its Proprietary Pan-RAS (ON) Inhibitor AN9025, Adlai Is Eligible To Receive ~$230M, Including An Upfront Payment And Near-term Milestone Payments Exceeding $20M

Benzinga·12/29/2025 11:05:56

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Under the terms of the agreement, ASK Pharm will obtain exclusive rights to develop, manufacture, and commercialize AN9025 in mainland China, Hong Kong and Macao (the "Licensed Territory").
Adlai Nortye will retain worldwide rights to the compound excluding the Licensed Territory.
Adlai Nortye is eligible to receive total consideration of up to RMB 1.6 billion (approximately USD 230 million), including an upfront payment and near-term milestone payments exceeding USD 20 million, plus tiered royalties ranging from a high single-digit to mid-teens percentage of net product sales in the Licensed Territory.