FDA announcements or IDEAYA Biosciences press releases

IDEAYA Biosciences Licenses SHR-4849 from Hengrui Pharma for $75M, Total Payments Around $1B, Targeting SCLC and NET Tumors

Dec 29, 2024, 11:02 AM

IDEAYA Biosciences has entered into an exclusive licensing agreement with Hengrui Pharma for SHR-4849, a novel drug currently in Phase 1 development. This drug is a DLL3 Topo-I-Payload antibody-drug conjugate (ADC) targeting small cell lung cancer (SCLC) and neuroendocrine tumors (NET). The licensing deal is valued at approximately $75 million, with potential total payments reaching around $1 billion. This move reflects a growing trend where biotechnology companies are increasingly sourcing innovation from China, highlighting the shifting dynamics in the pharmaceutical landscape.