GSK subsidiary GlaxoSmithKline Intellectual Property (No. 4) Ltd will pay a unit of HUTCHMED (China) (0013) US$110 million (HK$858 million) upfront for rights to an experimental drug for solid tumours, the Chinese drugmaker said on Thursday.
Shares in Hong Kong-listed HUTCHMED were up about 15 percent after the announcement.
Here are more details:
Clinical development for HMPL-A830 will focus initially on "colorectal, pancreatic and lung cancer indications", HUTCHMED said in a filing to the Hong Kong stock exchange.
A two-part clinical trial for HMPL-A830 in China will study the drug in patients with solid tumours, records on US government registry ClinicalTrials.gov showed.
Solid tumours are masses of tissue that can be cancer.
The HUTCHMED subsidiary, HUTCHMED Ltd, is also eligible to receive additional payments tied to development, regulatory and commercial milestones of up to about US$1.2 billion.
GlaxoSmithKline Intellectual Property (No. 4) Ltd will receive rights to develop and commercialise HMPL-A830 outside Mainland China, Hong Kong, Macau and Taiwan.
A Phase I development programme for HMPL-A830 is expected to start in the second half of 2026, HUTCHMED said.
Asked what specific diseases the Phase I trials will target and in what countries they will take place, a HUTCHMED spokesperson referred Reuters to its statement and the ClinicalTrials.gov record.
Reuters
