Is Genting Xinyao's "return" ADC drug License in mode?

China Times (chinatimes.net.cn) reporter Sun Mengyuan Yu Na Beijing report

For less than a hundred days of listing, Genting Xinyao retired the ADC drug bought by heavy money.

On August 16th, Genting announced the exclusive rights to transfer development and commercialization of Trodelvy, a wholly -owned subsidiary of Geely's Science, the wholly -owned subsidiary of Geely's Science. This is less than a hundred days away from Torodow's domestic approval.

Regarding the reasons for the transfer, Genting Xinyao replied to the reporter's email "Huaxia Times", "We think this is the most in line with the interests of Genting Xinyao and the benefit of the patients we served. This transaction fully reflects us on us The contribution to product development, and the price also fully reflects the value of the asset. This will help Genting New Yao optimize resources and improve financial conditions. Through sustainable, independent drug research and development pipelines Candidate product. "

Deng Zhidong, general manager of Hainan Boao Medical Technology Co., Ltd., told the reporter of Huaxia Times that there are many causes of the transaction. On the one hand, the domestic ADC market competition is becoming more and more intense. On the other hand, Genting Xinyao has not yet made profit, and the funds are under great pressure. , Augmented cash flow is also a pragmatic choice.

return the goods

Torconvi is the world's first and only approved Trop-2 ADC drug. This is a cell surface antigen that is excessively expressed in many types of tumors (including more than 90%of breast cancer and bladder cancer). Its occurrence made patients with three -negative breast cancer see hope.

According to public information, Torconvi, as the core product of Immunomedics, has become the first Trop-2 ADC drug to obtain FDA approved listing with its excellent curative effect. In the first two months of the listing of Toride, net sales reached 2010 Ten thousand U.S. dollars.

In September 2020, Geelyd's closing price was 108%premium, and a total of $ 21 billion acquired Immunomedics to obtain Torconvi. Genting Xinyao obtained the exclusive rights to develop, registered and commercialized in Greater China, South Korea and some Southeast Asian countries in Greater China, South Korea, and some Southeast Asian countries in 2019.

In November 2021, Genting New Yao announced the top line results of Torpo 2B phase EVER-132-001 research. The research reached its main end point with an objective relief rate of 38.8%. Chinese people have similar curative effects and safety.

On June 10, 2022, Torconvi was officially approved to be listed in the country, and was used to receive at least two systematic treatment (at least one of them for the treatment of metastatic diseases). Cancer adult patients.

This has also become the first innovative medicine for Genting Xinyao to be listed in China. The company plans to launch its sales in China in the fourth quarter of this year.

However, on August 16th, it was less than a hundred days before the listing of Torconvi, and Genting New Yao announced the exclusive rights of the transfer development and commercialization of Torcho, a wholly -owned subsidiary of Geely's Science.

According to the agreement, Genting Xinyao will receive a total of US $ 455 million in consideration, including a prepaid payment of US $ 280 million (approval from relevant regulatory departments) and a potential milestone payment of US $ 175 million in the future. In addition, Genting Xinyao will not need to pay the remaining high -limit milestone in April 2019 with the authorized license agreement signed with Immunomedics in April 2019. The right to develop, register and commercialize Touvit. According to the agreement announced today, the above original license agreement will be terminated.

"At present, the transaction with Geelyd is that after a Chinese company has obtained a licenses from a foreign biotechnology company, it has successfully developed and obtained the listing approval in the authorized area, and it will be sold to a multinational pharmaceutical company again. It is still the first time. It also explains the confidence of large foreign pharmaceutical companies in the Chinese pharmaceutical market. "Genting Xinyao Fan told the reporter of Huaxia Times.

Earlier, some people in the industry questioned that although Torner's overall data has reached statistically significance, it is less than expected to perform in a key indicator without progressive survival.

Is "return" related to the above question? Genting Xinyao denied it and said in the email of the reporter of the Huaxia Times that from the results of the 3 -phase study of Torconvi Global, the metastatic metastical breast cancer of the standard chemotherapy of the second line, Gosha Pushuzhu Single Single Single Single Single Single Single Single The anti -group comparison of the chemotherapy scheme selected by the doctor, HR (risk ratio) 0.39, which means that in metastatic three -negative breast cancer, Goshzuzumizumi risk has greatly reduced the risk of patients' disease progress or death risk. Safety analysis shows that its overall safety is good, and the Goshazuzumab group has better health -related quality of life. On the 15th of this month, the data released by Geely was once again showing that Torconwi treats HR+/HER2-metastatic breast cancer significantly improved the overall survival period.

Transform

Public information shows that Genting Xinyao has 11 drugs in the research pipeline, most of which are already in the post -clinical trial stage, and are introduced from foreign authorization.

However, as a BIOTECH company, Genting Xinyao has been seeking to transform into BioPharma. In February of this year, Genting Xinyao's first new drug research and development center landed on Shanghai Zhangjiang Science City and opened it, which seemed to mean that Genting Xinyao was working in the direction of Biopharma. Judging from the 2021 annual report, the company's investment in R & D is huge, which also makes the pressure on funds not small. In 2021, the R & D funds cost 613 million yuan, and the net profit loss was about 1 billion yuan. As of December 31, 2021, there were only 2.640 billion yuan in book funds.

And this time returned ADC drug rights, Genting New Yao can earn up to $ 330 million. The transaction will continue the cash flow of Genting's Xinyao at least 2026, and it will produce a 3.6 times premium of the down payment and milestone payment paid by Genting Xinyao.

In addition, Genting Xinyao also revealed to the reporter of the Huaxia Times that the net income of this transaction will be distributed in the following areas: 30%are used for investment business expansion and expanding the R & D pipeline, 35%are used to continue to develop other Nefecon other than NEFECON outside NEFECON Pipeline development, 15%for continuous development of NEFECON, 10%to strengthen our independent drug discovery capabilities, 10%for company operations and general administrative management.

Genting Xinyao said that the company will focus on the development of clinical candidates or platforms with similar first or similar potential potential in more than 10 other fields in the future. At the same time Research on drugs and interests.

"From a longer -term perspective, we will maintain the company's long -term development based on the strengthening of the financial situation after strengthening, establish a strong R & D pipeline through strategic transactions and independent drug research and development, and promote our research products to commercialize." The above -mentioned people replied to "" Huaxia Times reporter said.

In an interview with the China Times reporter, Deng Zhidong said that BIOTECH's transformation Biopharma, Licence-in is also a feasible shortcut, and there are not a few companies that have been successfully transformed through this path. Although this path can improve the transformation efficiency, because it is not independent innovation, it is often "stuck" or "cutting wool", which is subject to people. BIOTECH transformation and upgrading, strengthening independent research and development and original innovation, improving its own research and development innovation and scientific research toughness, and the long -term long -term way.

Xuexue Editor: Editor of Yan Yuan: Chen Yanpeng

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