Laekna Stock Soars After $280 Million Cancer Drug Deal
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
A research and development office of Laekna. Photo: Laekna
Chinese drugmaker Laekna Inc. has agreed to license the China rights for its cancer drug candidate to pharmaceutical giant Qilu Pharmaceutical Co. Ltd. in a deal worth up to 2 billion yuan ($280 million), sending its shares soaring.
The Hong Kong-listed biotech’s stock price jumped by more than 30% over the past week following the Nov. 12 announcement. Unlike previous licensing deals that gained market attention for taking Chinese drugs overseas, Laekna’s pact is with an established domestic player.
This agreement highlights an emerging trend in China’s biopharmaceutical industry, where research-focused biotechs increasingly partner with established domestic players that have strong commercialization capabilities to navigate the competitive local market.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- Laekna licensed China rights for its cancer drug LAE002 to Qilu Pharmaceutical in a deal worth up to 2.045 billion yuan ($280 million), boosting Laekna's shares by over 30%.
- Qilu will develop and commercialize LAE002 in Greater China; Laekna receives upfront/milestone payments and tiered royalties but has no products on the market yet.
- The deal reflects a trend of Chinese biotechs partnering with local firms for commercialization amid intense competition and dominance by multinationals.
AI generated, for reference only
Who’s Who
- Laekna Inc.
- Laekna Inc. is a Hong Kong-listed Chinese drugmaker. It recently licensed the China rights for its cancer drug candidate, LAE002 (afuresertib), to Qilu Pharmaceutical Co. Ltd. in a deal potentially worth over 2 billion yuan. This agreement will help solidify Laekna's finances, especially since the company currently has no products on the market.
- Qilu Pharmaceutical Co.Ltd.
- Qilu Pharmaceutical Co.Ltd. is a major Chinese drugmaker from Shandong province, transitioning from generic drugs to innovative medicines. They possess a strong presence in the oncology market, leveraging biosimilars of prominent breast cancer drugs. They have licensed the China rights for Laekna Inc.'s cancer drug candidate, LAE002, an AKT inhibitor.
- AstraZeneca PLC
- AstraZeneca PLC's capivasertib, an AKT inhibitor, received approval in the U.S. in November 2023 and in China in April 2025 for treating HR+/HER2- breast cancer. AstraZeneca is also a major player dominating the market for innovative drugs in China's core hospitals.
- Novartis AG
- Novartis AG is a multinational pharmaceutical giant from which Laekna Inc. acquired LAE002 and other pipeline assets. Several of Laekna's top executives previously worked at Novartis. Novartis is also one of the multinational corporations that dominate the market for innovative drugs in China's core hospitals.
- Novo Nordisk A/S
- According to the article, Novo Nordisk A/S is one of the multinational corporations that dominates the market for innovative drugs in China's core hospitals. This indicates their significant presence and influence within the Chinese pharmaceutical landscape, particularly in the innovative drug sector.
- Roche Holding AG
- Roche Holding AG is mentioned as one of the multinational corporations dominating the market for innovative drugs in China's core hospitals. It is listed alongside other major pharmaceutical companies like AstraZeneca, Novartis, and Novo Nordisk A/S.
- Jiangsu Hengrui Pharmaceuticals Co. Ltd.
- Jiangsu Hengrui Pharmaceuticals Co. Ltd. is mentioned as one of the domestic heavyweights dominating the market for innovative drugs in China's core hospitals. They are alongside other major players like Hansoh Pharmaceutical Group Co. Ltd. and BeOne Medicines Ltd., indicating their significant presence in the competitive local market.
- Hansoh Pharmaceutical Group Co. Ltd.
- Hansoh Pharmaceutical Group Co. Ltd. is identified as one of the domestic heavyweights dominating the market for innovative drugs in China's core hospitals. This indicates its significant presence and strong competitive position within the Chinese pharmaceutical industry.
- BeOne Medicines Ltd.
- BeOne Medicines Ltd. (博一医药) is a domestic heavyweight in China's biopharmaceutical industry. The company is noted for its strong presence in the market for innovative drugs within core hospitals, alongside other major players like Jiangsu Hengrui Pharmaceuticals Co. Ltd. and Hansoh Pharmaceutical Group Co. Ltd. This positioning suggests BeOne Medicines possesses significant commercialization capabilities.
- Alphamab Oncology
- Alphamab Oncology (康宁杰瑞生物制药) recently licensed mainland China rights for its antibody-drug conjugate JSKN003 to CSPC Pharmaceutical Group Ltd. This deal, valued at up to 3.08 billion yuan, exemplifies a growing trend of Chinese biotechs partnering with established domestic pharmaceutical companies for commercialization within the competitive local market.
- CSPC Pharmaceutical Group Ltd.
- CSPC Pharmaceutical Group Ltd. is a Chinese pharmaceutical company that recently licensed the Chinese mainland rights for the antibody-drug conjugate JSKN003 from Alphamab Oncology. This deal, valued at up to 3.08 billion yuan, highlights a trend where domestic biotechs partner with established players for commercialization within China.
- Jacbio Pharmaceuticals Group Co.Ltd.
- **Jacbio Pharmaceuticals Group Co.Ltd.** (雅各布生物制药) granted Shanghai Allist Pharmaceuticals Co. Ltd. an exclusive license to develop and commercialize two of its cancer inhibitors in Greater China. This deal, worth tens of millions of dollars, was highlighted as an example of research-focused biotechs partnering with established domestic players in China.
- Shanghai Allist Pharmaceuticals Co. Ltd.
- Shanghai Allist Pharmaceuticals Co. Ltd. is a recipient of an exclusive license from Jacobio Pharmaceuticals Group Co. Ltd. This agreement grants Shanghai Allist Pharmaceuticals the rights to develop and commercialize two cancer inhibitors in Greater China. This deal, valued at tens of millions of dollars, exemplifies the trend of research-focused biotechs partnering with established domestic players for commercialization within China.
AI generated, for reference only
What Happened When
- November 2023：
- AstraZeneca's capivasertib gained approval in the U.S. for treating HR+/HER2- breast cancer.
- 2024：
- Laekna reported net losses of 254 million yuan.
- August 2024：
- Jacobio Pharmaceuticals Group Co. Ltd. granted Shanghai Allist Pharmaceuticals Co. Ltd. an exclusive license to develop and commercialize two cancer inhibitors in Greater China.
- September 2024：
- Alphamab Oncology licensed Chinese mainland rights for JSKN003 to CSPC Pharmaceutical Group Ltd.
- April 2025：
- AstraZeneca's capivasertib gained approval in China for treating HR+/HER2- breast cancer.
- First half of 2025：
- Laekna reported net losses of 130 million yuan.
- By end of June 2025：
- Laekna reported 675 million yuan in cash and cash equivalents.
- By fourth quarter of 2025：
- Laekna aims to complete patient enrollment for Phase III clinical trial of LAE002.
- Nov. 12, 2025：
- Laekna announced licensing deal with Qilu Pharmaceutical for cancer drug candidate LAE002.
AI generated, for reference only
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新