CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Sino Biopharmaceutical, Boehringer ink cancer drug deal worth $7 billion in milestones

By Reuters News

Nov 4 (Reuters) - Sino Biopharmaceutical 1177.HK said on Wednesday it had entered into an option and license agreement with Germany's Boehringer Ingelheim for six preclinical oncology programs that could generate $7 billion in milestone payments.

Here are some more details:

  • The Chinese drugmaker will receive $358 million in upfront and near-term payments under the deal, it said

  • The deal covers six preclinical cancer programs spanning antibody-drug conjugates, which use antibodies to deliver toxic drugs directly to cancer cells, and T-cell engagers, which direct the body's immune T-cells to attack tumours

  • Sino Biopharmaceutical will lead the early development of the programs through global Phase I clinical trials

  • Boehringer will have the option to obtain exclusive rights to develop, manufacture and sell the treatments after certain clinical milestones are met

  • The German drugmaker can acquire rights to four programs outside mainland China, Hong Kong and Macau, and rights to the remaining two programs worldwide

  • In addition to the upfront and near-term payments, Sino Biopharmaceutical is eligible for potential option exercise, development, regulatory and commercial milestone payments of $7 billion, plus up to double-digit royalties on future product sales

  • The agreement is the second oncology partnership between the companies

  • Boehringer did not immediately respond to a Reuters request for comment on which disease areas the programs would target

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.