NEWS Zenas and InnoCare strike $2 billion licensing agreement Zenas BioPharma and InnoCare Pharma announced a license agreement granting Zenas global development and commercialization rights to orelabrutinib for MS globally, as well as all other therapeutic areas other than oncology outside of China and Southeast Asia. Zenas also secured rights to an oral, IL17AA/AF inhibitor and an oral, brain-penetrant, TYK2 inhibitor, both of which are expected to begin Phase I development in 2026. According to a company press release, Zenas will pay $100 million upfront and up to 7 million shares of Zenas common stock issuable upon a milestone expected to be achieved in early 2026. The total value of the deal, including various near-term, development, and regulatory milestone payments, exceeds $2 billion, as well as tiered royalties of up to high teens percentages on annual net sales of the licensed products. Orelabrutinib is a highly selective CNS-penetrant, oral, smallmolecule BTK inhibitor currently being evaluated in a Phase III clinical trial as a treatment for patients with Primary Progressive MS. A second Phase III trial evaluating orelabrutinib in patients with Secondary Progressive MS is expected to begin in Q1 2026. According to the release, in a Phase II trial evaluating treatment of patients with Relapsing-Remitting MS, orelabrutinib demonstrated significant reductions in new T1 gadolinium lesions versus placebo at weeks 12 and 24. Additionally, the treatment demonstrated sustained reductions in inflammatory activity through week 96 as shown by meaningful impact on endpoints indicative of disease progression. “The partnership with Zenas BioPharma represents a significant milestone in our journey, and we will continue to enhance and advance our globalization efforts in the future,” said Dr. Jasmine Cui, Co-Founder, Chairwoman, CEO, InnoCare Pharma, in the release. “Orelabrutinib has a differentiated mechanism of action and strong clinical data underscoring its promising potential as a treatment for patients with progressive forms of MS. We are confident in Zenas’ management team given their exceptional track record of successful drug development, global regulatory approvals and commercial launches, and their commitment to driving innovation for autoimmune diseases.”
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