On February 19, Shiyi Group announced that Shiyi Group Jushi Bio reached an agreement with Radiance Biopharma, which will obtain the rights to develop and commercialize Jushi Bio's self-developed recombinant anti-human receptor tyrosine kinase-like orphan receptor 1 (ROR1) antibody-coupled drug, SYS6005 project, etc., within a certain regional scope.
Under the agreement, Radiance Biopharma will receive exclusive rights to develop and commercialize SYS6005 in the United States, European Union, United Kingdom, Switzerland, Norway, Iceland, Liechtenstein, Albania, Montenegro, Northern Macedonia, Serbia, Australia and Canada from Jumbo Bio's proprietary SYS6005 program, and subsequently, under the Clinical/Commercial Supply Agreement, the exclusive rights to exclusive rights to manufacture the product. Jumbo Bio will receive a down payment of $15 million, as well as corresponding milestone payments, with development milestone payments not to exceed $150 million in the aggregate and sales milestone payments not to exceed $1,075 million in the aggregate.
According to public information, SYS6005 developed by Jushi Bio is a monoclonal antibody-coupled drug that binds to specific receptors on the surface of tumors, enters cells through endocytosis and releases toxins to kill tumor cells. According to the official website of the Center for Drug Evaluation (CDE) of China's State Drug Administration, SYS6005 has been approved for IND (approval of new drug for clinical research) in China in December 2024 according to the therapeutic biologics class 1 filing, with a proposed indication for advanced tumors, and it is expected to be suitable for the treatment of hematological tumors, ovarian cancer, and non-small cell lung cancer, among others.