On October 11, 2022 HanAll Biopharma (KRX: 009420.KS), a global biopharmaceutical company developing innovative medicines, reported that its licensed partner in greater China, Harbour BioMed, has signed an exclusive sublicense agreement with CSPC NBP Pharmaceutical Co., Ltd. (NBP Pharma), a wholly-owned subsidiary of CSPC, a RBM 28 billion 2021 sales company based in China, for HanAll’s FcRn inhibitor batoclimab (Press release, HanAll Biopharma, OCT 11, 2022, View Source [SID1234621920]). The deal grants NBP Pharma the exclusive rights to develop and commercialize batoclimab in Greater China including mainland of China, Hong Kong, Macau, and Taiwan. Under the agreement Harbour BioMed will receive a total of over RMB 1 billion, including the RMB 150 million worth upfront payment along with the potential milestone payments.

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"We are pleased to have reached this agreement with Harbour BioMed," said Cuilong Zhang, CEO of CSPC through the press release by Harbour BioMed. "Batoclimab is a promising innovative drug, and we hope to accelerate its clinical development, manufacturing, registration and commercialization in China, so as to benefit the patients in China better and earlier," he added.

"HanAll welcomes CSPC to join our journey to develop innovative medicines for patients in China. With its strong track records of R&D and commercialization, CSPC is expected to even further accelerate and expand the clinical development of batoclimab to contribute to autoimmune patients in China," said Sean Jeong, M.D., CEO of HanAll Biopharma.