Glenmark Pharmaceuticals, through its Swiss subsidiary Glenmark Specialty SA, has entered into an exclusive licensing agreement with China’s Hengrui Pharma for Trastuzumab Rezetecan, an advanced antibody drug conjugate (ADC) for cancer therapy.
Under the terms of the deal, Glenmark will pay an upfront fee of $18 million, while Hengrui stands to receive up to $1.093 billion in regulatory and commercial milestone payments, along with royalties on sales from licensed markets.
Global Rights with Regional Carve-Outs
The agreement grants Glenmark exclusive rights to develop and commercialise the therapy across most global territories, excluding major developed markets such as the United States, Europe, Japan, Canada, and certain Asian regions including Mainland China, Hong Kong, Macau, and Taiwan.
This carve-out structure positions Glenmark to tap into emerging and underserved markets, where demand for advanced oncology treatments remains largely unmet.
Boost to Glenmark’s Oncology Pipeline
Trastuzumab Rezetecan, already approved in China for select cases of locally advanced lung cancer, is part of a new class of targeted therapies. ADCs combine the precision of monoclonal antibodies with the potency of cytotoxic drugs, allowing for selective delivery of chemotherapy to cancer cells while sparing healthy tissue.
“This partnership aligns with our strategy to bring differentiated, high-value therapies to patients in need,” said Glenn Saldanha, Chairman and Managing Director of Glenmark Pharma. “With this collaboration, we are significantly expanding our oncology pipeline and reinforcing our commitment to addressing unmet medical needs in cancer care.”
Strategic Win for Hengrui in Emerging Markets
For Hengrui, the collaboration extends its global reach by leveraging Glenmark’s established commercial presence in emerging geographies.
“This partnership marks a significant step in our strategy to deepen access to innovative therapies in new regions,” noted Jo Feng, President of Hengrui Pharma. “By working with Glenmark, we can ensure that patients across more countries have access to next-generation cancer treatments.”
Industry Context
The agreement underscores the growing momentum in antibody drug conjugates, widely viewed as one of the most promising areas in oncology research. By securing rights to Trastuzumab Rezetecan, Glenmark positions itself as a serious player in oncology across high-potential but underserved markets, while Hengrui gains a strategic partner to expand its global footprint.
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