Benzinga | Feb 1, 2021 07:56AM EST

UPDATE: Junshi To Receive $150M Upfront Payment And 20% Royalty On Annual Net Sales Of Toripalimab, Will Receive Up to Aggregate $380M In One-Time Payments For Milestones; For JS006 And JS108-1, Junshi To Receive $35M Opt-In Payment And 18% Royalty

Junshi Biosciences will grant Coherus exclusive rights to toripalimab in the United States and Canada as well as options in these territories to Junshi Biosciences' JS006 and JS018-1. Coherus will also have first negotiation rights to two undisclosed preclinical immuno-oncology programs. Junshi Biosciences will receive an upfront payment of US$150 million. For toripalimab, Junshi Bioscience will receive 20% royalty on the annual net sales of toripalimab and up to an aggregate $380 million in one-time payments for the achievement of various milestones. For JS006 and JS108-1, Junshi Biosciences will receive an opt-in payment of $35 million per program. Additionally, for each program, Junshi Biosciences will receive 18% royalty on the annual net sales and up to an aggregate $255 million for the achievement of various milestones. The Companies will collaborate on the development of toripalimab and other licensed compounds, and Coherus will pay for a portion of these co-development activities up to a maximum of US$25 million per licensed compound per year.