Incyte Corporation has formed a global collaboration agreement with Jiangsu Hengrui Medicine Co., Ltd., a Chinese pharmaceutical company, for developing and commercializing SHR-1210, an investigational anti-PD-1 monoclonal antibody in a deal valued up to $795 million.

Under the deal, Incyte will acquire development and commercialization rights to SHR-1210 worldwide, with the exception of Mainland China, Hong Kong, Macau, and Taiwan, in exchange for an upfront payment of$25 million. The terms also include potential milestone payments of up to $770 million to Hengrui, consisting of $90 million for regulatory approval milestones, $530 million for commercial performance milestones, and $150 million based on clinical superiority. The terms also include tiered royalties to Hengrui on net sales of SHR-1210 in Incyte territories. Under the agreement, Incyte and Hengrui will assume all financial obligations associated with the development and commercialization of SHR-1210a in their respective territories.

Source: Incyte Corporation