Deal for Jemincare PROTAC signals Roche’s aim to expand dealmaking in China

Despite parent company Roche’s long history in China, Genentech’s first global licensing deal with a China-headquartered company came only Thursday, via a partnership that gives Roche another targeted protein degrader, in an oncology indication where it has a single disclosed asset in the clinic. 

Genentech Inc. will pay Shanghai Jemincare Pharmaceutical Co. Ltd. $60 million up front in exchange for global development and commercialization rights to androgen receptor degrader JMKX002992. Jemincare, which is eligible for $590 million in development, regulatory and sales milestones plus tiered royalties, has been developing the preclinical PROTAC (proteolytic targeting chimera) for prostate cancer...