Shanghai/London
Chinese biotech innovator Jacobio Pharma has entered a landmark global out-licensing agreement with AstraZeneca to advance its promising pan-KRAS cancer drug, JAB-23E73. This partnership, valued at up to $2 billion, represents one of the largest cross-border deals for a Chinese small-molecule oncology candidate currently in clinical development.
Under the agreement, Jacobio will receive an upfront payment of $100 million, with potential milestone payments of up to $1.915 billion depending on regulatory, development, and commercial achievements, along with tiered royalties on net sales. AstraZeneca secures exclusive global rights to research, develop, and commercialize JAB-23E73 outside mainland China. Within China, the two companies will jointly develop and commercialize the drug, sharing costs and potential profits.
JAB-23E73 targets KRAS mutations, a critical “on-off switch” for cancer cell growth. KRAS mutations are present in roughly 23% of all cancers, with particularly high incidence in pancreatic (88%), colorectal (50%), and lung cancers (32%). The drug is currently in Phase I clinical trials in both China and the U.S., with early anti-tumor activity observed.
Jacobio Chairman and Co-CEO, Wang Yinxiang, highlighted that AstraZeneca was selected for its global resources and investment scale, critical for advancing first-line treatment options that often require combination therapy studies. Matt Hellmann, Vice-President of Early Oncology Development at AstraZeneca, emphasized the importance of KRAS as “one of the most challenging areas in oncology,” noting that JAB-23E73 complements AstraZeneca’s broader oncology portfolio.
The agreement positions Jacobio strategically in the competitive global oncology market. While Jacobio shares experienced a 13% drop following the announcement, Wang stressed that the company remains focused on long-term technological progress rather than short-term market fluctuations.
About Jacobio Pharma
Jacobio Pharma is a Shanghai-based biotechnology company specializing in the discovery and development of small-molecule drugs targeting challenging oncology pathways, with a focus on global commercialization.
About AstraZeneca
AstraZeneca is a global biopharmaceutical company headquartered in the UK, with a strong focus on oncology, cardiovascular, renal, and respiratory therapies. Oncology represents 41% of its 2024 revenue, with 21% year-on-year growth.
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