A subsidiary of Gacos-B (01167) entered into a licensing and cooperation agreement with AstraZeneca to develop and commercialize the pan-KRAS inhibitor JAB-23E73

According to the Zhitong Finance App, Gacos-B (01167) announced that Beijing Gacos New Drug Development Co., Ltd., a non-wholly-owned subsidiary of the group, and AstraZeneca AB (AstraZeneca) have signed a licensing and cooperation agreement to develop and commercialize the pan-KRAS inhibitor JAB-23E73.

After signing the license and cooperation agreement and subject to its terms and conditions (including obtaining certain regulatory approvals and delivery conditions for the licensing transaction), AstraZeneca will be granted an exclusive license to research, develop, register, manufacture and commercialize the pan-KRAS inhibitor JAB-23E73 globally (excluding China (excluding Hong Kong SAR, China, Macau SAR and Taiwan)) (AstraZeneca region), and is responsible for all costs and activities associated with its further development and commercialization in accordance with the license and cooperation agreement. In the case of China (excluding Hong Kong Special Administrative Region of China, Macau Special Administrative Region of China and Taiwan), the licensed products will be jointly developed and co-commercialized by both parties in accordance with the governance framework set out in the license and cooperation agreement.

Under the license and cooperation agreement and subject to its terms and conditions, Beijing Gacos is entitled to receive a down payment of $100 million from AstraZeneca and is eligible for additional milestone payments of up to US$1.915 billion in total consideration after reaching certain development, regulatory and commercial milestones. Furthermore, after the successful commercialization of the licensed products, Beijing Gacos will be entitled to tiered royalties calculated based on the net sales of the licensed products.