HANSOH PHARMA (03692.HK): Signs ADC Strategic Collaboration and Licence with Roche; US$400mn Upfront, Over US$15bn Milestones

NewTimeSpace News: On 19 October 2026, Hansoh Pharmaceutical Group Company Limited (the "Company") announced that its wholly-owned subsidiaries Shanghai Hansoh Biomedical Co., Ltd., Changzhou Hengbang Pharmaceutical Co., Ltd. and Hansoh Bio, LLC (collectively, "Hansoh") entered into a strategic collaboration and licence agreement with F. Hoffmann-La Roche Ltd ("Roche") on 17 October 2026. The collaboration covers a portfolio of antibody-drug conjugate (ADC) programmes, comprising two preclinical ADC programmes of Hansoh and multiple ADC programmes directed at targets proposed by Roche and developed on Hansoh's proprietary ADC technology platform.

The announcement disclosed that, under the agreement, Hansoh will lead early-stage development of the programmes up to completion of global Phase Ia clinical trials; Roche will be responsible for further development worldwide excluding mainland China, Hong Kong, Macao and Taiwan; and Hansoh retains all rights to develop, register and commercialise the programmes in mainland China, Hong Kong, Macao and Taiwan. Hansoh will receive an upfront payment of US$400 million and a payment of US$110 million on the first anniversary, and is eligible to receive potential milestone payments exceeding US$15 billion based on development, regulatory and commercial progress, as well as tiered royalties on future product sales.

The Company stated that Hansoh has an option to designate up to two programmes and participate in their development outside mainland China, Hong Kong, Macao and Taiwan, and in return is eligible for additional economic benefits from their commercialisation in the United States. Roche is a subsidiary of Roche Holding AG, listed on the SIX Swiss Exchange, and was founded in Basel, Switzerland in 1896. To the best of the directors' knowledge after all reasonable enquiries, Roche and its ultimate beneficial owners are independent of and not connected with the Company and its connected persons; the transactions under the agreement are revenue-nature transactions in the ordinary and usual course of the Group's business and do not constitute any discloseable or connected transaction. The agreement is subject to customary closing conditions, including expiry of the applicable waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act and any necessary regulatory filings.