Jacobio, AstraZeneca ink cancer drug deal

Chinese biotech innovator Jacobio Pharma has struck a global out-licensing deal with pharmaceutical giant AstraZeneca for a promising cancer drug, marking one of the largest cross-border transactions for a Chinese small-molecule oncology candidate currently in clinical trials.

The deal, announced on Monday, centers on a potential $2 billion partnership to tackle KRAS-mutated cancers, long considered one of the most elusive targets in oncology.

Under the terms of the agreement, Hong Kong-listed Jacobio will receive an upfront payment of $100 million. Depending on future development, regulatory, and commercial achievements, the company is eligible to receive up to $1.915 billion in milestone payments, alongside tiered royalties on net sales.