Sept 3 (Reuters) – GSK subsidiary GlaxoSmithKline Intellectual Property (No. 4) Ltd will pay a unit of HUTCHMED (China) $110 million upfront for rights to an experimental drug for solid tumours, the Chinese drugmaker said on Thursday.
Shares in Hong-Kong-listed HUTCHMED were up about 15% after the announcement.
Here are more details:
o Clinical development for HMPL-A830 will focus initially on “colorectal, pancreatic and lung cancer indications”, HUTCHMED said in a filing to the Hong Kong stock exchange.
o A two-part clinical trial for HMPL-A830 in China will study the drug in patients with solid tumours, records on U.S. government registry ClinicalTrials.gov showed.
o Solid tumours are masses of tissue that can be cancer.
o The HUTCHMED subsidiary, HUTCHMED Ltd, is also eligible to receive additional payments tied to development, regulatory and commercial milestones of up to about $1.2 billion.
o GlaxoSmithKline Intellectual Property (No. 4) Ltd will receive rights to develop and commercialise HMPL-A830 outside Mainland China, Hong Kong, Macau and Taiwan.
o A Phase I development programme for HMPL-A830 is expected to start in the second half of 2026, HUTCHMED said.
o Asked what specific diseases the Phase I trials will target and in what countries they will take place, a HUTCHMED spokesperson referred Reuters to its statement and the ClinicalTrials.gov record.
(Reporting by Andrew Silver in Shanghai, additional reporting from Jasmeen Ara Shaikh in Bengaluru; Editing by Subhranshu Sahu)