Haisco Pharmaceutical Group has entered into an exclusive licensing agreement with AbbVie granting AbbVie rights to develop, manufacture, and commercialize a portfolio of novel pain medicines globally, excluding mainland China, Hong Kong, and Macau. The portfolio comprises multiple compounds targeting pain-related indications that are at various stages of development in China, from preclinical through Phase 1 clinical trials.
Under the terms of the agreement, Haisco will receive an upfront payment of USD $30 million and is eligible for up to USD $715 million in aggregate development, regulatory, and commercial milestone payments, bringing the total potential deal value to approximately USD $745 million. Haisco is also eligible to receive tiered royalties on future net sales of any approved products arising from the collaboration.
According to Haisco, the collaboration is intended to support its international growth strategy by combining its early-stage R&D capabilities with AbbVie’s global development and commercial infrastructure, including its established expertise in neuroscience and pain management. “By partnering with a global biopharmaceutical leader such as AbbVie, Haisco aims to accelerate the global development of innovative pain therapies and deliver high-quality treatment options to patients worldwide,” said Dr. Pangke Yan, chief executive officer of Haisco.
The agreement further expands AbbVie’s pain and neuroscience pipeline while enhancing Haisco’s visibility and presence in global markets through a risk-sharing, milestone-driven business development structure.
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