Hengrui Pharma announced that it has reached an agreement with biopharmaceutical company GSK to grant paid licenses to GSK for the global exclusive rights of the HRS-9821 project (excluding mainland China, Hong Kong SAR, Macau SAR, and Taiwan) and the exclusive option for the global exclusive license of up to 11 projects.
GSK will pay Hengrui $500 million as an initial payment. If all projects are granted exclusive options and all milestones are achieved, Hengrui will be eligible to receive a potential total amount of around $12 billion based on successful development, registration, and sales milestone payments.
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