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Innovent Biologics Pays GenFleet $22M Upfront for Rights to KRAS G12C Inhibitor in Greater China

NEW YORK – Innovent Biologics and GenFleet Therapeutics on Wednesday announced an exclusive license agreement to develop and commercialize GenFleet's KRAS G12C candidate GFH925 in greater China.

In the deal, Innovent will pay GenFleet $22 million upfront for rights to GFH925 in China, Hong Kong, Macau, and Taiwan and have the option to develop and commercialize the drug outside of greater China. If Suzhou, China-headquartered Innovent exercises its option to license the drug outside of the greater China region, GenFleet will receive up to $50 million in global development support. GenFleet is also eligible to receive up to $240 million in milestone payments along with tiered royalties on GFH925 sales in China and global markets.

Shanghai-based GenFleet has been developing GFH925 as a treatment for non-small cell lung cancer and other solid tumors. In July, China's National Medical Products Administration cleared the company to begin a Phase I/II clinical trial of GFH925 for advanced solid tumors in patients with the KRAS G12C mutation.

In acquiring rights to develop GFH925, Innovent will study the drug as a monotherapy and in combination regimens, for example, with anti-PD-1 therapies. "By leveraging our synergy in clinical development and commercialization, we hope to expedite the development and launch of GFH925," Innovent President Yongjun Liu, said in a statement.

GenFleet has several other therapeutic candidates in Phase I trials, including drugs targeting the TGF-beta type 1 receptor, CDK9, and RIPK1.