Shanghai Junshi Biosciences Co., Ltd. (“Junshi Biosciences”) has signed an exclusive licensing agreement with Fosun Wanbang (Jiangsu) Pharmaceutical Group Co., Ltd., a wholly owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”), covering development, registration, manufacturing and commercialization of roconkibart (JS005, an anti-IL-17A monoclonal antibody) across Greater China.
Financial structure • Up-front payment: RMB215.00 million (non-refundable, non-deductible). • Milestone payments: Up to RMB1.13 billion, comprising RMB180.00 million tied to development progress and up to RMB945.00 million linked to sales thresholds. • Royalties: Double-digit, tiered royalties on net sales in Greater China. • Total potential consideration before royalties: RMB1.34 billion.
License scope and term • Fosun Wanbang receives exclusive rights for development, registration and commercialization, and co-exclusive rights for manufacturing. • Royalty obligations run for each territory until the later of: 15 years after first commercial sale, expiry of core molecule patents, or expiry of regulatory exclusivity. • Agreement governed by PRC law and remains in force until all payment obligations are met.
Drug profile and development status Roconkibart selectively binds IL-17A homodimer and IL-17A/IL-17F heterodimer to inhibit downstream inflammatory signalling. • Psoriasis: Phase III registration in China completed; 150 mg cohort showed PASI 90 of 91% at Week 16 and PASI 100 of 65% at Week 52. NDA for moderate-to-severe plaque psoriasis accepted by NMPA in December 2025. • Ankylosing spondylitis: Phase II subject follow-up completed.
Counterparty background Fosun Pharma recorded assets of RMB120.05 billion, net assets of RMB48.74 billion, revenue of RMB41.66 billion and net profit of RMB3.37 billion for FY2025. Its subsidiary Fosun Wanbang contributes an established commercial infrastructure in autoimmune diseases.
Strategic impact The collaboration is expected to expedite roconkibart’s regulatory and commercial timeline in Greater China, broaden Junshi Biosciences’ autoimmune portfolio and strengthen long-term revenue potential. The agreement does not affect Junshi Biosciences’ operational independence.
Risk reminder Milestone and royalty inflows depend on clinical, regulatory and commercial milestones, introducing uncertainty to future earnings. Junshi Biosciences will disclose subsequent progress in accordance with regulatory requirements.
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