The Life Sciences team advised Jemincare and its subsidiary company, Shanghai Jemincare Pharmaceutical Co., Ltd., on its exclusive worldwide license agreement with Roche (SIX: RO, ROG;OTCQX: RHHBY) and Genentech for the development and commercialization of its androgen receptor degrader, JMKX002992.
Under the terms of the agreement, Genentech will be granted an exclusive license to develop and commercialize the degrader worldwide, and will be fully responsible for the development and commercialization costs. In return, Genentech will pay Jemincare a $60 million upfront payment. Jemincare is also entitled to receive up to $590 million in additional payments upon achievement of certain development, regulatory and sales-based milestone targets. Jemincare is also entitled to receive tiered royalties on net sales.
Jemincare is a leading pharmaceutical company from China.
Genentech is an American biotechnology corporation dedicated to pursuing groundbreaking science to discover and develop medicines for people with serious and life-threatening diseases.