Jacobio Pharma (1167.HK,) announced that it has entered an agreement with AstraZeneca for its proprietary Pan-KRAS inhibitor JAB-23E73. AstraZeneca will receive exclusive development and commercialisation rights outside of China, while Jacobio and AstraZeneca will jointly develop and commercialise JAB-23E73 in China.

Under the terms of the agreement, Jacobio will receive an upfront payment of USD 100 million, and is eligible for additional development and commercial milestone payments of up to USD 1.915 billion, as well as tiered royalties on net sales achieved outside of China. AstraZeneca will be responsible for all clinical development, regulatory submissions and commercialisation activities for JAB-23E73 outside of China.

Speaking in this regard, Yinxiang Wang PhD, Chairman and Co-CEO, Jacobio Pharma, commented, "We are delighted to partner with AstraZeneca. This collaboration marks a significant step forward as we bring our world-class programmes to the global stage and maximise the value of our R&D innovation. We are committed to providing breakthrough treatments and improving survival for patients, including those with KRAS-mutated cancers, across the world."

JAB-23E73 is an innovative Pan-KRAS inhibitor developed using Jacobio's induced allosteric drug discovery platform, designed to target multiple KRAS mutation subtypes. KRAS is the most frequently mutated oncogene in human cancers, present in approximately 23 percent of all patients. JAB-23E73 is being evaluated in phase I trials in both China and the US, where early signs of anti-tumour activity have been observed.

Matt Hellmann, Senior Vice President, Early Oncology and Precision Medicine, Oncology R&D, AstraZeneca, said, "KRAS is one of the most important oncogenes in cancer, with KRAS-mutated tumours driving profound unmet need for patients with pancreatic, colorectal and lung cancers. By advancing KRAS inhibitors like JAB-23E73, and in combination with our diverse oncology portfolio, we aim to accelerate the development of new treatment regimens that have the potential to transform outcomes for patients."