JACOBIO-B(01167) subsidiary enters into licensing and collaboration agreement with AstraZeneca to develop and commercialize the pan-KRAS inhibitor JAB-23E73.

JACOBIO-B (01167) announced that its non-wholly owned subsidiary, Beijing Jacobi New Drug Development Co., Ltd., has entered into a licensing and collaboration agreement with AstraZeneca AB to develop and commercialize the broad KRAS inhibitor JAB-23E73. Under the terms of the licensing and collaboration agreement (including obtaining certain regulatory approvals and closing conditions for the licensing transaction), AstraZeneca will be granted an exclusive license to research, develop, register, manufacture, and commercialize the broad KRAS inhibitor JAB-23E73 in the AstraZeneca territory worldwide (excluding China, including Hong Kong Special Administrative Region, Macau Special Administrative Region, and Taiwan), and will be responsible for all costs and activities related to further development and commercialization in accordance with the licensing and collaboration agreement. For China (excluding Hong Kong Special Administrative Region, Macau Special Administrative Region, and Taiwan), the licensed product will be jointly developed and commercially co-promoted by both parties, following the governance framework established in the licensing and collaboration agreement. Under the terms of the licensing and collaboration agreement, Beijing Jacobi has the right to receive a $100 million upfront payment from AstraZeneca and is eligible to receive additional potential total consideration of up to $1.915 billion in milestone payments upon reaching certain development, regulatory, and commercial milestones. Additionally, upon successful commercialization of the licensed product, Beijing Jacobi will have the right to receive tiered royalties based on the net sales of the licensed product.