Dr Reddy's Laboratories Ltd. on Thursday said its subsidiary has inked a licence agreement with Shanghai Henlius Biotech, Inc. to develop and commercialise an under-development cancer drug.
Dr Reddy's Laboratories SA has entered into a pact with the Chinese firm for HLX15, its investigational daratumumab biosimilar candidate to Darzalex and Darzalex Faspro.
HLX15 is a recombinant anti-CD38 fully human monoclonal antibody injection, with intravenous as well as subcutaneous formulations.
As part of the tie-up, Henlius will be responsible for development, manufacturing and commercial supply, and may receive up to a total of $131.6 million, including an upfront payment of $33 million and milestone payments, Dr Reddy's Laboratories said in a statement.
In addition, Henlius is eligible to receive royalties on annual net sales of the product, it added.
Dr Reddy's gets exclusive rights to commercialise the subcutaneous as well as intravenous formulations of HLX15 in the US and Europe, it stated.
"This latest collaboration with Henlius further progresses our regulated markets journey in biosimilars. Additionally, oncology has been a top focus therapy area for us," Dr Reddy's chief executive officer Erez Israeli said.
Henlius executive director and CEO Jason Zhu said, "We are confident that this partnership will enhance the global market competitiveness of both organisations in oncology treatment, ultimately allowing us to reach and support more patients around the world."
Dr Reddy's shares on Thursday ended 0.66 per cent up at Rs 1,236.10 apiece on BSE.
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