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Jemincare Out-Licenses Prostate Cancer Candidate to Genentech for $650 Million

publication date: Aug 18, 2022

Nanchang Jemincare out-licensed global rights for its prostate cancer candidate to Genentech in a $650 million deal. The androgen receptor degrader, JMKX002992, is aimed at patients who are resistant to existing therapies. Genentech will pay $60 million upfront, $590 million in milestones, royalties on sales, and it will be responsible for development costs. Four years ago, Jemincare started developing novel drugs and now has a portfolio of eight biotech and 16 small molecule candidates. Previously, it announced two other out-licensings from its portfolio. Genentech is a subsidiary of Switzerland’s Roche. More details....

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