[China BD 2024] Sunshine Lake (HEC) and Apollo  enters a 938 million USD License on FGF21/GLP-1 Bi-specific Fusion Protein HEC88473 (APL-18881)

Announced Date: 2024-11-12 (November 12, 2024)

Asset Name: HEC88473 (APL-18881)

Licensor: Sunshine Lake Pharma (member of HEC Group, China)

Licensee (Buyer): Apollo Therapeutics（UK)

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Asset Modality: Bi-specific fusion protein (BsFP）

Asset Target: long-acting GLP-1/FGF21 dual agonist

Current Stage: Phase II, China

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Scope of Authority:

Sunshine Lake has granted Apollo development, manufacturing and commercialization rights of APL-18881 (HEC88473) outside of China for all current and future therapeutic indications. 

Sunshine Lake will retain development, manufacturing and commercialization rights in China.

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Payment Detail:

Sunshine Lake is to receive 

Upfront payment of $12 million;

Development, regulatory and commercial milestone payments of up to $926 million.

Tiered royalties ranging from high single to low double digits on net sales.

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Link:

Apollo Therapeutics Signs Exclusive Ex-China License From Sunshine Lake Pharma for Clinical-Stage FGF21 / GLP-1 Dual Receptor Agonist, a Therapeutic With Major Commercial Potential in Multiple Indications | Apollo Therapeutics (apollotx.com)