Shang Hai Zheng Quan Bao·2025-10-08 18:14Group 1 - The core point of the article is that Nocare Biopharma has entered into a significant global licensing agreement with Zenas BioPharma, with a potential total transaction value exceeding $2 billion, focusing on the development of Obutinin for multiple sclerosis and other autoimmune diseases [1][2] Group 2 - Nocare Biopharma will receive an upfront payment of $100 million, milestone payments, and 7 million shares of common stock from Zenas, along with potential future milestone payments and royalties of up to 10% from annual net sales of the licensed products [2] - Obutinin is the first CNS-penetrant BTK inhibitor to enter Phase III clinical trials globally, with trials for primary progressive multiple sclerosis (PPMS) starting in Q3 2025 and secondary progressive multiple sclerosis (SPMS) trials expected to begin in Q1 2026 [2] Group 3 - Obutinin has already been approved for lymphoma treatment and shows significant potential for treating autoimmune diseases, with its design initially aimed at addressing such conditions [3] - The drug has been approved for four hematological indications in China, with three included in medical insurance, and is expected to gain additional indications in 2025, enhancing its market presence [3] Group 4 - The company is also focusing on strengthening its drug discovery platform to develop first-in-class and/or best-in-class autoimmune disease pipelines, addressing unmet medical needs both in China and globally [4]