HENLIUS (02696) deepens global cooperation in biosimilars, with a projected settlement amount of $100.5 million by 2026.

HENLIUS (02696) announced that on August 16, 2026, the company entered into a cooperation framework agreement with Sandoz AG (Sandoz), and reached a product subsidiary agreement for the first batch of cooperation products as well as a selection rights agreement for a potential cooperation product. The total invoiced amount expected to be achieved from the above agreements in 2026 will not exceed $100.5 million, subject to the terms and conditions agreed upon by both parties. The cooperation framework agreement will cover up to 10 monoclonal antibody (mAb) and/or antibody-drug conjugate (ADC) biosimilar products or components as may be mutually agreed upon from time to time, and product subsidiary agreements will be established for each product to specify the details of the cooperation. Accordingly, the company and Sandoz will establish a global strategic partnership, which encompasses CMC development, preclinical development, clinical development, regulatory submissions, production, market launch, commercialization, and lifecycle management of the cooperation products. The company will be responsible for the development, production, and supply of the cooperation products and will grant Sandoz an exclusive license to register and commercialize the cooperation products within the cooperation region, as well as a co-exclusive license for the development and production of the cooperation products in the cooperation region, unless otherwise specified in the product subsidiary agreements; Sandoz will pay the company the upfront payment, milestone payments, and/or sales share for each cooperation product as specified in the product subsidiary agreements. Sandoz will be responsible for obtaining and maintaining marketing approval (MA) for the cooperation products within the cooperation region and for their commercialization. Sandoz will pay the company a non-refundable $8 million option fee for the potential collaboration on hyaluronidase HLXTE-HAase1001 within the agreed timeframe following the signing of the cooperation framework agreement. Upon exercising the option, both parties will reach a specific cooperation agreement, and Sandoz will pay the company the agreed milestone payments for development and sales, as well as tiered sales rewards as stipulated. Sandoz AG was founded in 1979, with its history dating back to 1886, and is headquartered in Basel, Switzerland. Sandoz is a wholly-owned subsidiary of Sandoz Group AG. Sandoz Group AG is listed on the Swiss Stock Exchange (stock code: SDZ) and primarily engages in the R&D, production, and marketing of biosimilars and generics, with operations in over 100 countries. Previously, the company has established a good cooperative relationship with Sandoz for the commercialization of the biosimilar drug Ipilimumab HLX13 in multiple regions globally. This cooperation aims to leverage the company's advantages in R&D and production and Sandoz's global leadership and infrastructure in the commercialization of biosimilars to enhance global patient access to multiple high-quality biosimilar products. While deepening the company's international expansion, it further improves the accessibility and impact of the company's products in the international market, providing more treatment options for patients in the region.