Roche and its U.S. subsidiary Genentech have signed an exclusive worldwide license agreement with Shanghai-based Jemincare for the development and commercialization of Jemincare's prostate cancer hopeful.
The potential $650 million deal — $60 million upfront and up to $590 million in milestones — has Genentech responsible for development and commercialization costs. Genentech will then own the worldwide commercialization rights to JMKX002992, an androgen receptor degrader.
The precise clinical stage of JMKX002992 has not been shared, but Jemincare says the drug has the potential to treat patients with prostate cancer who have developed resistance to current therapies.
This is the second major deal for Jemincare recently. This past May, Orion paid $15.9 million to partner with Jemincare to develop and bring to market a treatment for acute and chronic pain.