Jemincare, a leading Chinese pharmaceutical company , announced today that it and its wholly-owned subsidiary Shanghai Jemincare Pharmaceutical Co., Ltd. have entered into an exclusive worldwide license agreement with Roche (SIX: RO, ROG;OTCQX: RHHBY ) and Genentech, a member of the Roche Group, for the development and commercialization of their androgen receptor degrader JMKX002992.

Under the terms of the agreement, Genentech will receive an exclusive license to develop and commercialize the degrader worldwide and will bear all development and commercialization costs. In return, Genentech will pay Jemincare US$60 million up front. Jemincare is also eligible for additional payments of up to $590 million upon the achievement of certain development, regulatory and revenue-based milestone goals. Jemincare is also eligible to receive tiered royalties on net sales.

JMKX002992 is a novel oral degrader of androgen receptor, a confirmed causative agent of prostate cancer. JMKX002992 has the potential to treat prostate cancer patients who have developed resistance to current therapies.

“We are excited to be collaborating with Roche, one of the world's leading pharmaceutical companies providing innovative solutions in key disease areas, and Genentech, a leading global innovator in oncology. We are confident that this partnership could significantly improve and accelerate the development and potential commercialization of JMKX002992 for the benefit of patients. This is our third innovative therapy for which we are partnering worldwide. We are proud of this achievement in just four years since the establishment of our R&D center. Jemincare will continue to implement our commitment to benefit patients with innovative solutions," said Hong Liang , President of Jemincare Pharmaceutical Group.

"Prostate cancer remains the leading cause of death in men worldwide," said James Sabry , Global Head of Roche Pharma Partnering. "Certain forms of prostate cancer can be particularly difficult to treat. Jemincare's novel oral androgen receptor degrader complements our development efforts new treatment options for patients with advanced prostate cancer."

About Jemincare

Jiangxi Jemincare Group Co., Ltd. is a leading pharmaceutical company from China. Jemincare was founded in 1999 and is mainly active in the pharmaceutical industry. The company employs more than 10,000 people dedicated to the development, manufacturing and commercialization of therapeutics in the strategic areas of oncology, nephrology, cerebro-cardiovascular disease, infection control, analgesics, respiratory disease and pediatrics. Shanghai Jemincare Pharmaceutical Co.,Ltd. is the R&D center of Jiangxi Jemincare Group Co.,Ltd. Shanghai Jemincare has now grown into a strong player with around 500 scientists and three innovation centers: Small Molecule Innovative Center, Biologics Innovation Center and Technology Innovation Center. The Androgen Receptor Degrader program was developed by the Small Molecule Innovation Center, which had more than 10 programs in the IND or IND preparatory phase and 3 programs in the clinical phase. For more information, please visit www.jemincare.com

 

Source:prnewswire.com

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