Core Viewpoint - Adlai Nortye Ltd. has entered into an exclusive licensing agreement with ASK Pharm for its pan-RAS (ON) inhibitor AN9025, which is aimed at advancing cancer therapies in Greater China [1][2][3] Company Overview - Adlai Nortye is a clinical-stage biotechnology company focused on developing innovative cancer therapies, with a dual R&D presence in the U.S. and China [5] - The company is building a robust pipeline targeting next-generation cancer immunotherapies and RAS-driven cancers [5] Licensing Agreement Details - ASK Pharm will have exclusive rights to develop, manufacture, and commercialize AN9025 in mainland China, Hong Kong, and Macao, while Adlai Nortye retains worldwide rights outside this territory [2] - The total consideration for the agreement could reach up to RMB 1.6 billion (approximately USD 230 million), including an upfront payment and milestone payments exceeding USD 20 million, along with tiered royalties on net product sales [2] Product Information - AN9025 is an oral small molecule pan-RAS(ON) inhibitor designed to target a wide range of RAS mutations across various tumor types, showing potent efficacy in preclinical studies [4] - The company plans to initiate a phase I clinical study for AN9025 in the first quarter of 2026 [4] ASK Pharm Overview - ASK Pharm is a research-based pharmaceutical enterprise founded in 2003, focusing on innovative drug development in areas such as oncology and chronic diseases [6][7] - The company has a strong R&D pipeline with 48 major research projects, including several in advanced clinical trials [8]