(Yicai Global) May 8 -- Junshi Biosciences has granted an exclusive regional commercialization license to India's Dr. Reddy's Laboratories for the Chinese biopharmaceutical company's monoclonal antibody cancer drug.

The New York-listed Indian drugmaker can exclusively commercialize intravenous cancer drug Toripalimab in India, South Africa, and eight Central and South American countries, including Brazil and Mexico, the Shanghai-based firm said late yesterday, citing a deal the pair inked on May 5. Dr. Reddy's Laboratories will have the option to expand the license rights to nine more countries, including Australia and New Zealand, it noted.

The agreement will earn Junshi Bio USD718.3 million in milestone payments. The firm will also collect a USD7 million down payment upon signing, an additional USD3 million if Dr. Reddy's Laboratories expands the license area, and a double-digit percentage royalty on net product sales.

In December 2018, Toripalimab became the first domestic monoclonal antibody drug targeting PD-1 to be approved for marketing in China. It can treat a variety of cancers, of which six indications have been given the green light in the Chinese market, including melanoma.

Junshi Bio submitted marketing applications for Toripalimab in the United States and European markets, it pointed out.

Shares of Junshi Bio [SHA: 688180] closed 1.4 percent higher at CNY51.60 (USD7.46) apiece in Shanghai today. Its Hong Kong-listed stock [HKG: 1877] ended down 1.6 percent at HKD28.50 (USD3.63).

The collaboration with Dr. Reddy's Laboratories shows the latest advancement in the global licensing network of Toripalimab. The exclusive commercialization rights of the drug in North America were granted to Coherus Bioscience in February 2021, while the rights in 20 countries in the Middle East and North Africa were given to Hikma Pharmaceuticals last December.

In March, Junshi Bio joined hands with Singapore's Rxilient Biotech to promote and commercialize Toripalimab in Southeast Asian markets. Junshi Bio bought a 40 percent stake in Rxilient's unit Excellmab, which was granted the exclusive license and other related rights to develop and commercialize the drug in nine Southeast Asian countries, including Thailand, Cambodia, Indonesia, and Malaysia, it noted at the time.

Editor: Martin Kadiev