SIMCERE PHARMA(02096): Recently received milestone payment for the SIM0500 overseas licensing option agreement with AbbVie.

SIMCERE PHARMA (02096) has announced that its subsidiary company has entered into an overseas licensing option agreement with AbbVie Inc. regarding the research-based new candidate drug SIM0500. Under the terms of the agreement, the group will receive an upfront payment from AbbVie, as well as potential option rights and milestone payments of up to $1.055 billion, while both parties have agreed to royalties on net sales. The company's board of directors is pleased to announce that following the receipt of the upfront payment under the agreement, the group has recently received an additional $40 million payment from AbbVie. This payment reflects the positive progress of the cooperation between the group and AbbVie in advancing the clinical development of SIM0500. SIM0500 is a humanized GPRC5D-BCMA-CD3 trispecific antibody developed by the group using its proprietary T-cell engager multispecific antibody technology platform. This molecule combines a low-affinity but highly targeted CD3 antibody, as well as two anti-tumor-related antibodies targeting G-protein-coupled receptor C family 5 member D (GPRC5D) and B cell maturation antigen (BCMA). SIM0500 demonstrates strong T-cell cytotoxic effects against MM cells through multiple anti-tumor mechanisms.