Benzinga | Nov 10, 2021 05:53AM EST

I-Mab and Jumpcan Announced Strategic Commercial Partnership on Eftansomatropin Alfa

I-Mab (the "Company") (NASDAQ:IMAB), a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of novel biologics, announced today that it has entered into a strategic collaboration agreement with Jumpcan Pharmaceutical Group ("Jumpcan"), a leading China pharmaceutical company specialized in and committed to pediatric medicines, for the development, manufacturing and commercialization of I-Mab's highly differentiated long-acting recombinant human growth hormone, eftansomatropin alfa (TJ101) in mainland China.

Jumpcan is listed among the China Top 100 pharmaceutical companies. With a focus in pediatric medicines, it has more than 3,500 medical representatives and retail specialists, covering over 23,000 tiered hospitals in 30 provinces and cities across the country. Jumpcan's revenue for full year 2020 and nine month ended September 30, 2021 reached RMB 6.2 billion and RMB 5.4 billion, respectively, with the pediatric segment accounting for 60% of the total.

The partnership brings together I-Mab's leadership in drug innovation and manufacturing with Jumpcan's commercial leadership in pediatric medicines in China with proven capabilities in market access and retail channels. The deal creates a strong foundation for the future development and commercialization of eftansomatropin alfa and marks another significant milestone in I-Mab's commercial transformation following the announcement of its strategic collaboration with Sinopharm in October.

Under the collaboration agreement, I-Mab will continue to lead the ongoing registrational Phase 3 clinical trial of eftansomatropin alfa in pediatric growth hormone deficiency (PGHD). The two companies will share costs of manufacturing tech transfer, process optimization and new formulation development.

I-Mab will be the marketing authorization holder (MAH) of the product and supply the product at agreed cost to Jumpcan. Jumpcan will be responsible for commercializing the product and developing new indications in collaboration with I-Mab in mainland China. I-Mab will provide clinical, manufacturing and academic support.

According to the terms of the collaboration agreement, Jumpcan will make an upfront payment of RMB 224 million to I-Mab and, upon achievement of development, registration and sales milestones, certain milestone payments of up to RMB 1.792 billion, making the non-royalty payments a total of up to RMB 2.016 billion. In addition, I-Mab and Jumpcan will share profits generated from commercialization of the product in mainland China on a 50/50 basis, pursuant to which I-Mab will be entitled to receive tiered low double-digit royalties on net sales.

"Jumpcan is a leading player in pediatric therapeutics across China with a strong sales force covering more than 23,000 tiered hospitals in 30 provinces and cities," said Dr. Jingwu Zang, Founder, Chairman and Director of I-Mab. "The strategic collaboration with Jumpcan is crucial for I-Mab as I believe the broad coverage and deep commercial experience of Jumpcan will accelerate the pre-launch and commercial launch readiness of eftansomatropin alfa to bring this differentiated therapy quickly to market and improve the lives of pediatric patients."

"I-Mab is a true pioneer in R&D innovation with a globally competitive innovative pipeline. Eftansomatropin alfa is a safe and efficacious weekly therapy equivalent to daily rhGH therapy. We are excited to establish this strategic collaboration with I-Mab to accelerate the commercialization of this novel product. We regard this collaboration as an important turning point for Jumpcan to further strengthen our commitment to the pediatric therapeutic area." said Mr. Fei Cao, Chairman of Jumpcan.

PGHD is a rare disease characterized by the inadequate secretion of growth hormone from the pituitary gland. A decrease in growth hormone can affect numerous physiological processes, including short stature and other physical traits as well as psychological disorders. In China there are more than 3.4 million children with growth hormone deficiency. Most recombinant human growth hormone (rhGH) available in China requires daily injections, which often hampers patient compliance and can adversely affect the clinical outcomes.