SHANGHAI, Jan 27 (Reuters) – German drugmaker Boehringer Ingelheim will license an experimental inflammatory bowel disease treatment from China’s Simcere Pharmaceutical Group, paying 42 million euros upfront and up to another 1,016 million euros if developmental, regulatory and sales milestones are met. The deal “further validates the innovation capabilities and technological leadership of the Group’s […]
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Boehringer Ingelheim in deal with China’s Simcere Pharma to license IBD drug candidate
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SHANGHAI, Jan 27 (Reuters) – German drugmaker Boehringer Ingelheim will license an experimental inflammatory bowel disease treatment from China’s Simcere Pharmaceutical Group, paying 42 million euros upfront and up to another 1,016 million euros if developmental, regulatory and sales milestones are met.
The deal “further validates the innovation capabilities and technological leadership of the Group’s autoimmune research and development platform,” Simcere said in a filing to the Hong Kong stock exchange on Tuesday.
The licensed drug candidate, SIM0709, is designed to block pathways involved in the onset and progression of IBD. It is a pre-clinical asset, Simcere said in a separate statement.
The agreement covers the development and commercialisation of SIM0709. Boehringer Ingelheim has been granted a global licence, excluding the greater China region.
Simcere’s therapeutic focuses include neuroscience, oncology, anti-infection and autoimmune disease. The licensing transaction is its second in the autoimmune field.
(Reporting by Andrew Silver, Editing by Louise Heavens)