Feb. 1 Quick Takes: Coherus gets rights to Junshi’s PD-1; plus GSK backs newco Adrestia, a seed for Cellino and more
Coherus BioSciences Inc. (NASDAQ:CHRS) and Shanghai Junshi Biosciences Co. Ltd. (HKEX:1877; Shanghai:688180) partnered to co-develop Junshi’s PD-1 inhibitor Tuoyi toripalimab in the U.S. and Canada, with Coherus gaining exclusive commercialization rights in both countries. Junshi will receive $150 million up front in a deal that includes milestones of up to $1.1 billion, plus royalties. Coherus also receives options to anti-TIGIT mAb JS006 and JS018-1, an engineered cytokine targeting IL-2, plus a right of first negotiation for two other undisclosed preclinical immuno-oncology programs. Tuoyi is marketed in China and Junshi said it expects to submit a BLA to FDA this year to treat nasopharyngeal carcinoma.
Adrestia finds series A investor, partner in GSK
U.K.-based Adrestia Therapeutics raised a series A round of undisclosed size from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) and Ahren Innovation Capital and entered a multiyear deal with GSK to discover targets using its disease rebalancing platform. Adrestia is eligible to receive up to $230 million in post-option milestones, plus royalties, on up to five programs. ...