Jacobio Pharma Signs $2 Billion Deal With AstraZeneca for Cancer Drug
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Jacobio Pharma has agreed to license an experimental cancer drug to AstraZeneca in a deal potentially worth more than $2 billion, marking a significant entry by the Anglo-Swedish giant into the race to target a notoriously difficult genetic mutation.
The Hong Kong-listed biotech said late Sunday it would receive $100 million upfront for global rights — excluding the Chinese mainland and some other Asian territories — to JAB-23E73, a small molecule inhibitor targeting KRAS mutations common in solid tumors. Jacobio is eligible for up to $1.915 billion in additional payments contingent on development, regulatory, and commercial milestones, plus tiered royalties on future sales.
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- Jacobio Pharma licensed its experimental KRAS inhibitor drug, JAB-23E73, to AstraZeneca for up to $2.015 billion, including $100 million upfront.
- AstraZeneca receives global rights except mainland China, where both firms will co-develop and share profits; Jacobio’s shares fell over 18% after announcement.
- JAB-23E73, now in Phase I trials, targets common KRAS mutations in solid tumors; AstraZeneca’s oncology focus and combination therapy capability influenced the deal.
- Jacobio Pharma
- Jacobio Pharma, a Hong Kong-listed biotech, licensed its experimental cancer drug JAB-23E73 to AstraZeneca for over $2 billion, with $100 million upfront. This pan-KRAS inhibitor is for solid tumors, targeting a genetic mutation common in cancers. Despite the deal's size, Jacobio's shares fell, as the upfront payment was perceived as low. JAB-23E73 is in Phase I trials for various cancers.
- AstraZeneca
- AstraZeneca, a prominent Anglo-Swedish pharmaceutical company, has entered into a licensing agreement with Jacobio Pharma for an experimental cancer drug, JAB-23E73. This deal allows AstraZeneca to significantly advance its efforts in targeting the challenging KRAS genetic mutation, common in many solid tumors. They will handle global development and commercialization, excluding the Chinese mainland and some Asian territories. AstraZeneca's extensive oncology portfolio, including ADCs and immunotherapies, was a key factor in Jacobio's decision, as combination therapies are expected for first-line KRAS-mutated cancer treatments.
- Amgen
- Amgen has developed a drug that targets the specific KRAS G12C mutation in cancer. While pan-KRAS inhibitors are still in clinical development, Amgen's targeted treatment has already reached the market.
- Bristol Myers Squibb
- Bristol Myers Squibb (BMS) is mentioned as a company that has successfully brought drugs targeting the specific KRAS G12C mutation to the market. These drugs are a type of cancer treatment that blocks a particular form of the KRAS gene mutation.
- Revolution Medicines
- Revolution Medicines, a U.S.-based company, is a competitor in the pan-KRAS inhibitor field. Their candidate, RMC-6236, is currently in Phase III trials, putting them ahead in clinical development. Revolution Medicines employs a "molecular glue" approach to target KRAS mutations.
- Hutchmed
- Hutchmed (和黄医药) set a record in 2023 for Chinese small molecule drug exports. They licensed fruquintinib to Takeda Pharmaceutical, a deal that included a $400 million upfront payment. This record highlights the value of Hutchmed's assets compared to more recent, earlier-stage licensing agreements in the small molecule drug landscape.
- Takeda Pharmaceutical
- Takeda Pharmaceutical was involved in a significant licensing agreement in 2023 for fruquintinib with Hutchmed. This deal, for a small molecule drug export from China, included an upfront payment of $400 million, setting a record for such transactions at the time.
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