Business
Coherus BioSciences to expand late-stage pipeline to immuno-oncology with in-license of Junshi Biosciences’ PD-1, toripalimab, in United States and Canada
- Coherus to pay $150 million upfront for U.S. and Canada rights to toripalimab, an extensively studied, late-stage anti-PD-1 antibody- First U.S. BLA filing
About this update from Coherus Oncology, Inc.
[{"type":"text","content":"- Coherus to pay $150 million upfront for U.S. and Canada rights to toripalimab, an extensively studied, late-stage anti-PD-1 antibody- First U.S. BLA filing expected this year for nasopharyngeal carcinoma with breakthrough therapy designation- Options to PD-1 combination agents, TIGIT and IL-2, add long-term growth potential- Conference call at 8:00 am Eastern Time today REDWOOD CITY, Calif., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus”, Nasdaq: CHRS) today announced a collaboration with Shanghai Junshi Biosciences, Co., Ltd (“Junshi Biosciences”, HKEX: 1877; SSE: 688180) for the development and commercialization of toripalimab, Junshi Biosciences’ anti-PD-1 antibody, in the United States and Canada. Upon satisfaction of closing conditions, Coherus and Junshi Biosciences will co-develop toripalimab, and Coherus will be responsible for all commercial activities in the licensed territory. Under the terms of the agreement, Coherus will also be granted options to Junshi Biosciences’ TIGIT-targeted antibody and next generation engineered IL-2 cytokine for evaluation as potential combination therapies with toripalimab, as well as certain negotiation rights to two early-stage checkpoint inhibitor antibodies. “Toripalimab has a compelling late-stage clinical profile and will be the cornerstone of our immuno-oncology franchise. This transaction expands our late-stage pipeline into the rapidly growing checkpoint inhibitor market, which is expected to exceed $25 billion in the United States by 2025, and provides us a PD-1 backbone for potential long-term growth with next-generation immuno-oncology combinations,” said Denny Lanfear, CEO of Coherus. “Junshi Biosciences is an innovation-driven biopharmaceutical company with global clinical research capabilities, and we are excited to collaborate with them as we build on our success in oncology with biosimilars and broaden our mission of expanding patient access and delivering health care system savings to larger markets.” “We believe Coherus is the right partner for us in North America. Their commercial team has demonstrated remarkable ability to gain significant share of the oncology market against entrenched large competitors,” said Dr. Ning LI, CEO of Junshi Biosciences. “Toripalimab could be the first marketed Chinese anti-PD-1 antibody in the overseas market. T...