CSPC Innovation inks $124m deal with Radiance Biopharma

CSPC Innovation Pharmaceutical (SZSE:300765) announced its subsidiary, CSPC Jishi Pharmaceutical, has entered into an exclusive agreement with Radiance Biopharma for the SYS6005 project. The agreement grants Radiance Biopharma exclusive rights to develop and commercialize SYS6005, a ROR1-targeted antibody-drug conjugate, in key markets including the U.S., Europe, and Canada. Under the terms of the deal, Radiance Biopharma will make an upfront payment of $15 million. CSPC is also eligible to receive up to $15 million in development milestone payments and up to $107.5 million in sales milestone payments, potentially totaling $124 million. SYS6005 is being developed as a treatment for advanced tumors, including blood cancers, ovarian cancer, and non-small cell lung cancer, with Phase I trials already underway. The agreement is effective immediately and is subject to New York law.