(Yicai) Jan. 2 -- Chinese biotech company Innovent Biologics has granted Swiss pharmaceutical giant Roche exclusive global rights to develop and commercialize its experimental small cell lung cancer medicine in a deal worth a maximum of USD1.08 billion.

Innovent will license the global development and sales of its DLL3-targeted antibody-drug conjugate IBI3009 to Basel-based Roche and in return will receive an upfront payment of USD80 million and will also be eligible for up to USD1 billion in milestone payments, plus tiered royalties on net sales, the Suzhou-based firm said today.

IBI3009, which targets the DLL3 protein commonly found in small cell lung cancer, has secured investigational new drug approvals in Australia, China and the US. Its Phase I clinical trials got underway last month.

The tie-up leverages Roche's global development capabilities and builds on its expertise in antibody-drug conjugates, while allowing Innovent to advance its mission of developing high-quality biopharmaceuticals, said Innovent Chief Business Officer Samuel Zhang.

There has been a string of major licensing deals in the DLL3 field lately. On Dec. 29, Jiangsu Hengrui Pharmaceuticals licensed its DLL3-ADC candidate SHR-4849 to the US’ IDEAYA Biosciences in a deal worth over USD1 billion.

Earlier in 2024, Merck acquired the US’ Harpoon Therapeutics to obtain the tri-specific antibody MK-6070 targeting DLL3 and linked arms with Japan’s Daiichi Sankyo in another tie-up in August. In November 2023, the US’ Legend Biotech licensed its DLL3-targeted CAR-T therapy to Switzerland’s Novartis for USD1.1 billion.

Editor: Kim Taylor