Amgen became the first company in May to crack an undruggable target and earn approval for a KRAS inhibitor. Now, Innovent is looking to follow in its footsteps.
Chinese pharma companies Innovent and GenFleet have entered into an exclusive licensing agreement for developing and commercializing GenFleet’s GFH925, the company’s lead KRAS G12C candidate in the China, Hong Kong, Macau and Taiwan markets.
GFH925 is an orally active inhibitor of KRAS G12C, an oncogenic mutation that can play a role in certain types of cancers. The drug received IND clearance from Chinese regulators in July.
Innovent will be responsible for clinical development and commercialization of GFH925 in the regions, while retaining rights for development and commercialization outside these markets.
GenFleet will receive $22 million at signing, with potential for up to $50 million for global development support. Upon reaching certain milestones in development, registration and global sales, GenFleet is eligible to receive up to $240 million, in addition to sales-based tiered royalties in both the aforementioned and global markets.
“We are delighted to form this strategic collaboration with GenFleet,” said Innovent president Yong Jun Liu in a statement. “With the option-in rights for global development and commercialization, we look forward to bringing GFH925 as a new and more effective treatment option to patients both in China and globally.”
