[China BD 2025] InnoCare Pharma and Zenas BioPharma enters 2 Billion USD License on Three Autoimmune Product Candidates

Announced Date: 2025-10-08 (October 8, 2025)

Asset Name: BTK inhibitor Orelabrutinib; Oral IL-17AA/AF inhibitor; Oral TYK2 inhibitor.

Licensor (Seller): InnoCare Pharma Limited (China)

Licensee (Buyer):  Zenas BioPharma, Inc. (US)

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Leading Asset: Orelabrutinib

<Orelabrutinib is approved for B cell malignancies in mainland China and Singapore>

Asset Modality: Small Molecule

Asset Target: Bruton’s Tyrosine Kinase (BTK) inhibitor

Potential Indication: Multiple Sclerosis (MS)

Current Stage: Phase III initiated

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Asset 2: Oral IL-17AA/AF inhibitor (ZB021)

Asset Modality: Small Molecule

Current Stage: IND enabling studies

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Asset 3: Oral TYK2 inhibitor (ZB022)

Asset Modality: Small Molecule

Current Stage: IND enabling studies

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Scope of Authority:

InnoCare Pharma granting Zenas global development and commercialization rights to orelabrutinib for Multiple Sclerosis (MS) and across all therapeutic areas other than oncology.

Zenas also secured rights to a novel, oral, IL-17AA/AF inhibitor, and an oral, brain-penetrant, TYK2 inhibitor.

Zenas will have the exclusive right to develop, manufacture and commercialize orelabrutinib in the field of MS globally, and non-oncology fields in all territories outside Greater China and Southeast Asia, while InnoCare retains full global rights in the field of oncology.

Zenas will also have the exclusive right to develop, manufacture and commercialize the oral, IL-17AA/AF inhibitor in all territories outside Greater China and Southeast Asia, and the oral, brain-penetrant, TYK2 inhibitor globally.

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Payment Detail:

Zenas will pay InnoCare upfront and near-term milestone payments of up to $100 million in cash, and up to 7,000,000 shares of Zenas common stock.

The total of the upfront payment, near term milestone and potential development and regulatory milestone payments, along with potential commercial sales achievement milestone payments for all three programs, exceeds $2 billion.

In addition, InnoCare is entitled to receive tiered royalties of up to high teens percentages on annual net sales of the licensed products.

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Link:

Zenas BioPharma and InnoCare Pharma Announce License Agreement Granting Zenas Rights for Three Autoimmune Product Candidates, Including Orelabrutinib, a BTK Inhibitor in Phase 3 Development for Multiple Sclerosis | Wed, 10/08/2025 – 05:00

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InnoCare Pharma and Zenas BioPharma Announce License Agreement Granting Zenas Rights for Three Autoimmune Product Candidates, Including Orelabrutinib, a BTK Inhibitor in Phase 3 Development for Multiple Sclerosis | INNOCARE

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Note:

Chinese Name of InnoCare Pharma 诺诚健华