On April 25, 2024, Hansoh Pharmaceutical Group Co., Ltd. (Hansoh Pharma, 03692.HK), China's leading innovation-driven pharmaceutical company, and Qyuns Therapeutics Co., Ltd. (Qyuns, 02509.HK), a biopharmaceutical company focusing on antibody drugs for autoimmune and allergic diseases, announced that the two parties have entered into a license agreement on Monoclonal Antibody QX004N (“QX004N”) independently developed by Qyuns on April 24.
Pursuant to the Licensing Agreement, Hansoh Pharma has obtained an exclusive license from Qyuns to develop and commercialize QX004N within China (including Hong Kong, Macau and Taiwan).Hansoh Pharma will be responsible for the research and development (“R&D”), manufacturing and commercialization of QX004N in all developable dosage forms and indications in China, and will pay an upfront payment of RMB75 million and potential payments upon reaching R&D, regulatory and sales-based commercial milestones of up to RMB1,032 million, plus tiered royalties on future product sales.
QX004N is an innovative drug candidate indicated for psoriasis and Crohn’s disease. As of the date of this announcement, QX004N has been initiated in various clinical studies, with the highest stage of development in China being a Phase II clinical trial.
“Hansoh Pharma is actively seeking potential blockbuster products in the autoimmune field,” said Ms Eliza Sun, Executive Director of the Board at Hansoh. “Through this collaboration with Qyuns, we will further expand our pipeline portfolio for the treatment of autoimmune diseases and provide better treatment options for patients with chronic autoimmune diseases.”
“We are thrilled to enter into the strategic partnership with Hansoh,” said Mr. Jiwan Qiu, Founder, Chairman and CEO of Qyuns. “As a leading pharmaceutical company in China, Hansoh's rich development experience and seasoned sales network will strongly support the development of QX004N. We believe that with the joint efforts of both sides, QX004N will benefit patients suffering from psoriasis and other related diseases in the near future.”
About Hansoh Pharma
Hansoh Pharma is a leading pharmaceutical company in Greater China driven by innovation. It is committed to the treatment of major diseases in the areas of oncology, anti-infections, CNS diseases, metabolic diseases, as well as autoimmune diseases, and is dedicated to improving human health through continuous innovation. Hansoh Pharma has been ranked among the top 100 global pharmaceutical companies and the top 3 best industrial enterprises in China in terms of pharmaceutical R&D pipeline for several years, and is a national key high-tech enterprise and a national technology innovation demonstration enterprise. Hansoh Pharma was listed on the Stock Exchange of Hong Kong in June, 2019 (stock code: 03692.HK). For more information, please visitwww.hspharm.com.
About Qyuns
Founded in 2015, Qyuns Therapeutics (02509.HK) is a clinical-stage biotech company exclusively focused on biologic therapies for autoimmune and allergic diseases with a self-developed drug pipeline and established commercial-scale in-house manufacturing capability. Adhering to the vision of "innovation for the great majority", Qyuns strives to improve drug accessibility and affordability in focused disease areas. Based on its independent innovation capabilities, Qyuns has built a comprehensive pipeline, including 1 product with BLA acceptance, 1 product at phase III clinical stage, 4 products at phase II or phase I, with indications covering the four major disease areas of skin, respiratory, digestive, and rheumatism. Qyuns is one of those who received the most IND approvals regarding autoimmune and allergic diseases in China. For further information, please refer to https://www.qyuns.net.
