Xin Lang Cai Jing·2025-10-08 10:27Core Viewpoint - InnoCare Pharma Inc., a wholly-owned subsidiary of the company, has signed a licensing agreement with Zenas BioPharma, Inc. to license the drug Orelabrutinib and two preclinical assets, allowing Zenas to develop, produce, and commercialize these products [1][3]. Transaction Details - The agreement was approved by the company's board on October 7, 2025, without the need for shareholder approval [3]. - The primary licensed product, Orelabrutinib, is a late-stage clinical oral small molecule BTK inhibitor with potential best-in-class advantages, currently undergoing Phase III clinical trials for multiple sclerosis and has completed patient enrollment for Phase III registration trials in immune thrombocytopenia [3]. Company and Partner Overview - Zenas BioPharma, established in November 2019 and listed on NASDAQ in September 2024, focuses on transformative therapies for autoimmune diseases and is advancing late-stage drugs like obexelimab and Orelabrutinib [3]. - There are no affiliations or other relationships between Zenas and the company or its subsidiaries [3]. Agreement Key Terms - Zenas will pay an upfront fee of $100 million and milestone payments, with total potential payments exceeding $2 billion, including royalties of up to 10% on annual net sales of the licensed products [5][6]. - The licensing agreement will be effective upon signing and will last until the expiration of the sales rights for the licensed products, after which Zenas will receive a permanent, irrevocable license [6]. Impact on the Company - The agreement is expected to accelerate the global development and commercialization of Orelabrutinib and other pipeline products, marking a significant milestone in the company's international strategy [5]. - The transaction is not expected to affect the company's business independence or create dependency [5].