Roche has once again returned to China to bolster its antibody-drug conjugate pipeline, this time striking a licensing deal with Innovent for $1 billion in biobucks.
Roche is starting off 2025 just as it did 2024: with a trip to China for a new antibody-drug conjugate deal. This time, the Swiss pharma is ringing in the New Year with Innovent in a licensing pact worth up to $1 billion.
The partners will work on IBI3009, a DLL3-targeted ADC that has been cleared for clinical trials in the U.S. and China. The first patient with small cell lung cancer was dosed in a Phase I trial in December 2024.
Roche will receive exclusive rights to develop, manufacture and commercialize IBI3009. Both companies will work on early-stage development of the asset before Roche takes over full development, according to Wednesday’s release. The deal involves an $80 million upfront fee, and $1 billion possible in milestones later on, plus royalties on net sales.
The therapy could be a rival to Amgen’s Imdelltra, which was approved in May 2024 for small cell lung cancer.
Roche is no stranger to striking deals with Chinese biotechs, having signed a similar ADC-focused pact with MediLink Therapeutics almost exactly a year ago. That deal involved a single ADC candidate called YL211 (known as RG6648 in Roche’s pipeline) for solid tumors. YL211 is currently in a Phase I study for patients with advanced solid tumors with a primary completion date of April 2027.
Roche also has two FDA-approved ADCs: Polivy and Kadcyla. Polivy came courtesy of a pact with Seagen and is cleared for the treatment of certain types of lymphoma. Kadcyla is approved for late-stage breast cancer and as an adjuvant treatment in early-stage breast cancer. But like many biopharma companies, Roche is pursuing a new generation of ADCs that could overcome payload and toxicity challenges currently associated with the blockbuster drug class.
China has proven a valuable source of assets for growing ADC pipelines. Just in the last six weeks, for example, GSK has twice struck ADC deals with China-based firms—first with Hansoh Pharma, then with DualityBio—worth up to $1 billion and $1.7 billion, respectively. And following the withdrawal of Trodelvy in bladder cancer, Gilead is looking to regain its footing in the space with Tubulis, committing up to $415 million in a licensing agreement focused on advancing novel ADCs for solid tumors.
Meanwhile, a number of biotechs in the ADC space continue to announce major fundraising rounds, such as Adcendo’s $135 million series B and Alentis’ $181 million series D, both announced in November 2024.
