InventisBio is eligible to receive an upfront payment, as well as milestone payments upon achievements of certain future pre-specified regulatory and sales milestones, with total payments in the range of approximately RMB400 million to RMB600 million, and tiered low-double-digit royalties on annual net sales of befotertinib in the Licensed Territory during the prescribed royalty term, which will expire, on a region-by-region (meaning each region of the Territory is measured independently) and product-by-product (meaning each licensed product form is measured independently) basis, on the expiration of InventisBio’s compound patent that contains the last valid claim on such product in such region, subject to further extension in accordance with the agreement.
Business · p. 173
The agreement may be terminated (i) by either party for uncured material breach by the other party; (ii) by InventisBio if we abandon the development of befotertinib, develop other EGFR-T790M targeted drugs, or continuously fail to undertake substantial activities in relation to clinical trials of befotertinib for three months; or (iii) by us if certain befotertinib compound fails to be patented or such patents are later invalidated.
Business · p. 173
On December 30, 2023, we entered into a supplemental agreement with Mabworks, under which, after arm’s length negotiations taking into account the anticipated market performance of MIL60, we agreed to pay Mabworks a one-off buyout fee of RMB25.0 million in order to streamline project management and further optimize our resource allocation, and the parties agreed to terminate all future royalty arrangements under the collaboration agreement.
As of the Latest Practicable Date, RMB100 million of regulatory milestone payments had been triggered and become payable by Betta to us.
Business · p. 188
Pursuant to the Betta Agreement, we are entitled to receive from Betta upfront payment and development milestone payment of RMB230 million.
Summary · p. 6
Pursuant to the CTTQ Agreement, we will be entitled to receive upfront and development milestone payments of up to RMB260 million, as well as commercial milestone payments of up to RMB290 million.
In addition, with a potential total deal value up to approximately US$282.0 million, in 2020, we granted HUYABIO International, LLC and its subsidiary HBI Pharma Ltd. an exclusive licence to develop and commercialise GH21 worldwide excluding Chinese Mainland, Hong Kong, Macau and Taiwan.
Summary · p. 2
(i) a one-time, non-refundable upfront payment of US$80,000,000; (ii) development, regulatory, and commercial milestone payments of up to US$1,450,000,000 in aggregate; and (iii) tiered royalty payments which are based on annual net sales at a rate of up to a low double digit precentage during the Royalty Term, subject to customary reductions including for payments for third party licenses.
Business · p. 191
We consider that the terms of the Gilead Licensing Agreement are fair and reasonable and the transactions contemplated thereunder are in the interests of our Company and our Shareholders as a whole.
The GAS Agreement has a term of 20 years from the date of signing or/until the expiration of the last patent, whichever is later.
Business · p. 164
We are obligated to make milestone payments to our GAS Partner totaling AUD1,025,000, contingent upon the achievement of specific development and regulatory milestones in China:
Business · p. 165
We are obligated to pay our GAS Partner an annual royalty at a mid single-digit percentage of the gross revenue generated from the licensed patents in the preceding year.
If we obtain the marketing authorization of LNK01001 for AS as scheduled, we will receive a reward of up to RMB7.5 million from Simcere. If we fail to obtain the marketing authorization of LNK01001 for AS as scheduled, we will pay Simcere compensation of up to RMB7.5 million.
Business · p. 191
Prolonged delays in any indication may require renegotiation of commercial rights, including possible reallocation of sales and promotion rights to other indications.
Business · p. 191
This collaboration shall continue unless one party breaches the terms of the agreement and fails to remedy the breach or obtain the other party’s understanding within 90 days.
Before submitting the NDA, (i) Junze Chuangyao has the option to pay 50% of the actual expenses incurred in Phase I, Phase II and Phase III clinical trials, thereby maintaining 50% rights and interests in HJ197 in the Collaboration Area.
Business · p. 209
Junze Chuangyao may also terminate the HJ197 Agreements if HJ197 is rejected for marketing approval or the sales of HJ197 are terminated.
Business · p. 209
After a comprehensive assessment, we chose to out license HJ191 to maximize its value with a partner and to concentrate internal resources on HJ891.
On March 21, 2023, we entered into a development and license agreement with Biohaven Therapeutics Ltd., a wholly owned subsidiary of Biohaven Ltd. (NYSE: BHVN) (“Biohaven”), where we granted Biohaven exclusive rights to research, develop, manufacture and commercialize our brain penetrant dual TYK2/JAK1 inhibitor program, known as TLL-041 to us, for the treatment of diseases, disorders or conditions in humans in all territories worldwide excluding mainland China, Hong Kong, Macau and Taiwan.
Summary · p. 6
On July 3, 2023, we entered into a license and development agreement with Shanghai Tenovation Biopharmaceutical Co., Ltd. (上海建毅騰創生物醫藥科技有限公司) (“Tenovation”) where we granted Tenovation an exclusive, royalty-bearing license worldwide for Tenovation to research, develop, manufacture, and commercialize TLL-009 and any veterinary drug product comprising TLL-009 for the diagnosis, treatment and/or prevention of diseases in animals, excluding any applications for human use.
Under the exclusivity arrangement of the Eikon Agreement, neither party shall, during the term of the agreement, clinically develop, manufacture or commercialize any PARP1 selective inhibitor, except pursuant to the terms and conditions thereunder.
Business · p. 205
Based on the latest patent application, the Eikon Agreement is expected to extend to at least 2046.
Business · p. 206
Eikon may unilaterally terminate the Eikon Agreement in its entirety immediately if it receives a clinical hold or a withdrawal notice from applicable regulatory authorities with respect to the Licensed Products due to safety concerns.
Under the Mailisheng Licensing Agreement, T-mab Bio Pharma shall obtain a total of up to RMB500 million of upfront payment and sales milestone payment (including one-time nonrefundable upfront payment of RMB380 million), and the royalty of up to double-digit percentage of net sales of Mailisheng (邁粒生^®^).
Business · p. 197
Under the 9MW3811 Licensing Agreement, we shall obtain a one-time non-refundable upfront payment of US$25 million, a total of up to US$571 million of near-term payment, development and commercial milestone payment, and the royalty payment based on net sales of the licensed products (IL-11 directed therapeutics including 9MW3811).
Business · p. 197
Additionally, Qilu shall have the right to terminate the Mailisheng License Agreement without cause, by providing a 90-day prior written notice to us.
As of the Latest Practicable Date, we have already received the upfront payment in full and is subsequently eligible to receive up to US$56.0 million in milestone payments related to R&D, registration, and commercialization, as well as tiered royalties ranging from high-single-digit to low-double-digit percentages on product sales.
Business · p. 185
inno.N may terminate the inno.N Agreement for convenience with written notice at least a specified number of days prior to the effective termination date.
Business · p. 185
With prior written notice, Sino Biopharm may unilaterally terminate this Sino Biopharm Agreement if its R&D, registration, manufacturing, or commercialization of XW001 becomes infeasible due to: (a) issues related to the quality, safety, or efficacy of XW001, or (b) changes in market conditions or regulatory policies or other objective reasons not attributable to either party.
The development milestone payments upon commencement of the Phase III clinical trial and the first NDA filing, in an aggregate amount of US$3.0 million, had become due but remained unsettled, which we expect to settle in 2026.
Business · p. 182
Such payments have been or are expected to be funded by internal resources, external financing (including [REDACTED] from the [REDACTED]) and/or future commercialization revenue.
Business · p. 184
The amount of such payments was determined after arm’s length negotiations with reference to the development stage, commercial potential, scope of licensed rights, comparable transactions and prevailing market practice.
Pursuant to the BMS Agreement, on March 7, 2024, we received a non-refundable and non-creditable upfront payment of US$800 million from BMS, which is not subject to any further conditions, and BMS is required to pay up to US$500 million in contingent near-term payments, which payment amounts are adjusted based on when each prescribed milestone is achieved.
Business · p. 424
BMS may terminate the BMS Agreement, in its entirety or on a country-by-country basis, without cause by giving us at least 90 days’ prior written notice, if such termination is before the first commercial sale of the Licensed Product in the U.S. or ROW, or at least 6 months’ prior written notice, if such termination is thereafter, subject to our right to extend the effective date of such termination up to a specified time period.
Business · p. 426
We believe this collaboration allows us to combine resources, expertise and infrastructure to expedite development and commercialization while effectively managing the associated costs and risks.
In consideration of the termination, we shall pay non-refundable termination fees to Innovent in an aggregate of US$20.0 million (the "Termination Fees") in installments by December 1, 2026.
Business · p. 398
The remaining termination fees payment of US$14.0 million will be paid in two installments by December 2026.
Summary · p. 17
According to Frost & Sullivan, a higher amount of termination fee than the original option fee is in line with industry norm.
Pursuant to the Licensing Agreement, Grand Pharma shall have the right to terminate the Licensing Agreement upon written notice to us, if we fail to successfully complete the first patient dosing of CBT-001 in mainland China by 13 April 2022 (or within a mutually agreed extended timeline), or fail to obtain the regulatory approval for CBT-001 in mainland China by 13 April 2025 (or within a mutually agreed extended timeline).
Business · p. 335
The first patient dosing in mainland China occurred on 6 March 2024 which is after 13 April 2022, as the clinical trial progress was affected by COVID-19, which may give rise to Grand Pharma’s right to terminate the Licensing Agreement with us absent a mutually agreed extended timeline or an amendment or waiver of the relevant terms.
We have entered into several out-licensing and collaboration deals with leading industry players worldwide to date, including BioNTech, BeiGene, Adcendo, GSK, and Avenzo, with over US$6.0 billion in total deal value (of which approximately US$500 million had been received as of the Latest Practicable Date).
Business · p. 390
GSK paid US$30 million in upfront payment and has agreed to pay additional pre-option milestone payments.
Business · p. 403
We have received an upfront payment of US$50 million and will be eligible to receive up to approximately US$1.15 billion in development, regulatory and commercial milestone payments.
We collaborated with Mr. Jay Chou through (i) being a planner and/or an investor to large-scale concerts featuring Mr. Jay Chou, including one concert in each of 2019 and 2020, where we procured Mr. Jay Chou to perform at such concerts through Archstone; (ii) being the lead creator of J-Style Trip, where we procured Mr. Jay Chou to appear and obtained the right to use Mr. Jay Chou’s publicity rights through Archstone; (iii) jointly developed and owned the ChouMate trademarks with JVR Music; and (iv) entered into a 10-year IP Authorization Agreement with JVR Music pursuant to which we have secured an exclusive right in relation to projects related to ChouMate and a non-exclusive priority right to invest in projects related to Mr. Jay Chou and his IPs globally.
Summary · p. 4
On May 26, 2021, we entered into a new five-year cooperation framework agreement with Hangzhou Hengmei in relation to our MODONG coffee.
Business · p. 256
Term. Five years, and shall be automatically renewed for one year upon expiration, unless we give three months’ prior written notice to Hangzhou Hengmei.
In May 2022, we granted to MSD an exclusive, royalty-bearing and sublicensable license to develop, use, manufacture and commercialize our TROP2 ADCs, including SKB264 (also known as "MK2870" in MSD's portfolio) and any other TROP2 ADCs we may develop in the future, and products containing one or more such TROP2 ADCs outside Greater China.
Summary · p. 10
In June 2022, we granted to MSD an exclusive, royalty-bearing, sublicensable license to develop, use, manufacture and commercialize SKB315 and products based on SKB315 globally.
Summary · p. 10
To date, we have entered into nine out-license agreements, including three license and collaboration agreements with MSD to develop up to nine ADC assets for cancer treatment.