April 25, 2024

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[THE INVESTOR] AbClon announced on Nov. 2 that it has signed an agreement with Shanghai Hanlius Biotech to transfer its technology for AC101, a novel targeted therapy for gastric and breast cancers. 

The Chinese biotechnology company will secure rights to develop and commercialize the medicine in China, and has an option to acquire overseas sales rights, under the agreement, and will pay US$1 million upfront and US$15.5 million in commission and royalty. 

AC101 targets human epidermal growth factor, a protein that can affect the growth of some cancer cells, and when administered with Herceptin to animals, was found more effective than Roche’s Perjeta, according to AbClon. Perjeta, in combination with Herceptin, is currently used as standard treatment for treatment of HER2-positive breast cancer. 

Shanghai Hanlius Biotech is a joint venture established by Shanghai Fosun Pharmaceutical and Henlius Biopharmaceutical in 2009. 

By Hwang You-mee (glamazon@heraldcorp.com)