CSPC Innovation Pharmaceutical (300765.SZ) subsidiary signs exclusive cooperation agreement with Radiance Biopharma for SYS6005.

CSPC Innovation Pharmaceutical (300765.SZ) announced that its holding subsidiary, CSPC PHARMA Giant Stone BioPharmaceutical Co., Ltd. (referred to as "Giant Stone Bio"), has reached an agreement with Radiance Biopharma, Inc. (referred to as "Radiance Biopharma"). Radiance Biopharma will obtain the rights to develop and commercialize the recombinant anti-human receptor tyrosine kinase-like orphan receptor 1 (ROR1) antibody drug conjugate SYS6005 (referred to as "SYS6005") project independently developed by Giant Stone Bio within a certain geographical area. It is reported that SYS6005 developed by Giant Stone Bio is a monoclonal antibody drug conjugate that can bind to specific receptors on the surface of tumors, enter cells through internalization, and release toxins to kill tumor cells. SYS6005 has been classified as a category 1 biologic product for therapeutic use, with approved indications for late-stage tumors, and is expected to be used in the treatment of blood tumors, ovarian cancer, non-small cell lung cancer, etc. Radiance Biopharma will obtain the exclusive rights to develop and commercialize SYS6005 in the United States, European Union, United Kingdom, Switzerland, Norway, Iceland, Liechtenstein, Albania, Montenegro, North Macedonia, Serbia, Australia, and Canada, territories where the project has been independently developed by Giant Stone Bio and has proprietary knowledge. Radiance Biopharma will pay Giant Stone Bio an initial payment of $15 million. Radiance Biopharma and its affiliates or sublicensees will pay Giant Stone Bio milestone payments based on the development, approval, and sales of the product within the licensed territories, with development milestone payments totaling up to $150 million and sales milestone payments totaling up to $1.075 billion.