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Innovent and Ascentage Announce Three-Part, $245 Million Collaboration

publication date: Jul 15, 2021

Suzhou Innovent Bio announced a three-part collaboration with Shanghai's Ascentage Pharma that includes:

Joint China commercialization of HQP1351 (olverembatinib), Ascentage's lead candidate, a BCR-ABL TKI aimed at drug-resistant chronic myeloid leukemia; Innovent will make a $30 million upfront payment and be responsible for up to $115 million in milestones;
A clinical collaboration to develop Ascentage's Bcl-2 inhibitor (lisaftoclax) with Innovent's anti-CD20 monoclonal antibody Halpryza® (a rituximab biosimilar) and Innovent's anti-CD47 monoclonal antibody letaplimab (IBI188); and
A $100 million Innovent investment in Ascentage consisting of $50 million upfront and two-year warrants for a second $50 million.

Stock Symbols: (HK: 01801) (HK: 6855)

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