Corning Jerry and Siludi Pharmaceuticals announced today that they have reached a licensing agreement with Glenmark for KN035. As of press release, Corning Jerry Pharmaceutical-B (09966) rose 8.15% to HK$5.04; 3D MEDICINES (01244) rose 7.89% to HK$6.02.
The Zhitong Finance App learned that Corning Jerry and Siludi Pharmaceuticals announced today that they have reached a license agreement with Glenmark for KN035. As of press release, Corning Jerry Pharmaceutical-B (09966) rose 8.15% to HK$5.04; 3D MEDICINES (01244) rose 7.89% to HK$6.02.
According to the news, Corning Jerry Biopharmaceuticals and 3D Medicine jointly announced that the two sides have reached an agreement with Glenmark Pharmaceuticals Ltd., a wholly-owned subsidiary of Glenmark Pharmaceuticals Ltd., for subcutaneous PD-L1 antibody drug Envida (R&D code: KN035, generic name: Envolimab injection) to grant Glenmark to India, Asia Pacific (excluding Singapore, Thailand, and Malaysia), the Middle East and Africa, Russia, the CIS, and Latin America Exclusive licensing rights for the development and commercialization of oncology indications.
Glenmark is responsible for the development and commercialization costs of the KN035. Under the license agreement, the licensor will collect from GSSA a total of US$700.8 million, including a non-refundable down payment and milestone payments based on certain development, regulatory and commercialization developments, and a license fee of units to double digit percent according to the KN035 net sales level.