SIMCERE PHARMA (02096) and AbbVie have entered into an overseas license option agreement for SIM0500.

Simcere Pharma (02096) announced that on January 13, 2025, its subsidiary Shandong Xian Sheng Biopharmaceutical Co., Ltd. (Shandong Xiansheng) has entered into a licensing option agreement with AbbVie Inc. (stock code: ABBV). According to the terms of the agreement, AbbVie will have the option rights to license the research-based new investigational drug SIM0500. SIM0500 is undergoing Phase I clinical studies in China and the United States for patients with relapsed or refractory multiple myeloma (MM). Under the terms of the agreement, the group will receive an upfront payment from AbbVie, as well as up to $1.055 billion in option rights and milestone payments. The group will also receive tiered royalties based on the net sales of the product outside of Greater China. AbbVie has the right to charge tiered royalties on the net sales in Greater China.