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SUZHOU, China, Sept. 30, 2024 /PRNewswire/ -- Alphamab Oncology (stock code: 9966 HK) announced that Jiangsu Alphamab Biopharmaceuticals Co., Ltd. ("Alphamab"), a wholly-owned subsidiary of Alphamab Oncology ("the Company"), entered into a licensing agreement (the "Licensing Agreement") on anti-HER2 bispecific antibody-drug conjugate (ADC) JSKN003 with JMT-Bio Technology Co., Ltd. ("JMT-Bio"), a wholly-owned subsidiary of CSPC Pharmaceutical Group Co., Ltd. ("CSPC") (stock code: 1093.HK).
According to the terms of the Licensing Agreement, JMT-Bio will obtain the exclusive license and sublicense rights to develop, sell, offer for sale and commercialize JSKN003, for the treatment of tumor-related indications (the "Field") in mainland China (excluding Hong Kong, Macau or Taiwan) (the "Territory") and become the sole marketing authorization holder for JSKN003 for the Field in the Territory. JMT-Bio shall bear at its own costs and expenses for the clinical development activities under the Licensing Agreement. Alphamab retains the sole right to supply JSKN003 for any purpose within or outside the Territory.
According to the Licensing Agreement, the Company is entitled to receive upfront payment and milestone payments of up to RMB 3.08 billion in total, including an upfront payment of RMB 400 million, a development milestone payment of RMB 300 million related to enrollment of the first patient for multiple registration trials, and regulatory milestone payments based on regulatory approval progress and commercial milestone payments. In addition, the Company is also entitled to receive a double-digit percentage of royalties on net product sales of JSKN003.
JSKN003 is an anti-HER2 bispecific antibody-drug conjugate (bis-ADC), which is developed inhouse with Alphamab's proprietary Glycan-specific conjugation platform. Compared with its ADC counterparts, JSKN003 demonstrated better serum stability and stronger bystander effect, which effectively expands the therapeutic window. Multiple clinical data presented at several international academic conferences demonstrated favorable tolerability and safety profile, with promising efficacy of JSKN003 in heavily pretreated patients with advanced solid tumors.
About JSKN003
JSKN003 is an anti-HER2 bispecific antibody-drug conjugate (bis-ADC), which is developed inhouse with Alphamab's proprietary Glycan-specific conjugation platform. Compared with its ADC counterparts, JSKN003 demonstrated better serum stability and stronger bystander effect, which effectively expands the therapeutic window. Multiple clinical studies of JSKN003 are currently being conducted in Australia and China, and we are also actively making the progress in its pivotal clinical trial in advanced HER2 low-expression breast cancer in China.