By Ian Walker

GSK has entered into an exclusive license agreement with Hansoh Pharmaceutical Group for its HS-20093 antibody-drug cancer treatment, with payments of up to $1.71 billion depending upon milestones being met.

The companies said Wednesday that GSK will make an initial upfront payment of $185 million to Hansoh with the rest depending upon success-based milestones for HS-20093.

Upon commercialization of HS-20093, GSK will pay tiered royalties on global net sales outside of China's mainland, Hong Kong, Macau, and Taiwan, the companies said in a joint statement.

HS-20093 is being developed for the treatment of lung cancer, sarcoma, head and neck cancers and other solid tumors in multiple phase I and II clinical trials in China.

GSK shares at 1248 GMT were up 13.60 pence, or 0.95 at 1,446.40 pence. They are currently up 0.6% over the year to date.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

December 20, 2023 08:12 ET (13:12 GMT)

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