(Il Sole 24 Ore Radiocor) - Milano, 12 mag - US pharmaceutical company Bristol Myers Squibb announced an up to 15.2 billion dollar partnership with China's Hengrui Pharma to advance a portfolio of 13 early stage programs in oncology, hematology, and immunology.

Under the terms of the agreement, BMS will pay Hengrui up to 950 million dollars, including a 600 million dollar upfront payment, a 175 million dollars first anniversary payment, and a second contingent anniversary payment of 175 million dollars in 2028.

The potential total value of the agreement is up to approximately 15.2 billion, including the exercise of available options for the joint discovery programs and the achievement of applicable development, regulatory, and commercial milestones for all programs.

In addition, Hengrui is eligible to receive tiered royalties on net sales of products commercialized outside the Hengrui Territory.

The agreements include four oncology/hematology assets from Hengrui, four immunology assets from BMS, and five innovative assets to be jointly discovered and developed by both companies, leveraging Hengrui's discovery engine and platform technologies across several innovative modalities. Hengrui has the option to co-develop select assets and the potential to conduct certain commercialization activities globally with BMS.

Under the collaboration, BMS obtains exclusive worldwide rights to the Hengruioriginated assets outside Chinese mainland, Hong Kong SAR, and Macau SAR, while Hengrui obtains exclusive rights to the BMSoriginated assets within the Hengrui Territory, with BMS retaining rights for the rest of the world. Hengrui will be fully responsible for early clinical development to accelerate clinical proof of concept.

for these programs.

(RADIOCOR) 12-05-26 08:46:45 (0180) 5 NNNN