logo
NextCure signs up to $745 million deal with China's Simcere to develop cancer drug

NextCure signs up to $745 million deal with China's Simcere to develop cancer drug

Reuters16-06-2025
June 16 (Reuters) - Drug developer NextCure (NXTC.O), opens new tab said on Monday it had signed a deal worth up to $745 million with China-based drugmaker Simcere Zaiming (2096.HK), opens new tab to develop a cancer therapy for solid tumors.
NextCure said it will gain global rights to the experimental therapy, SIM0505, in all regions except Greater China, where Simcere Zaiming will retain control.
Zaiming is eligible to receive payments throughout the potential development phases, including upfront payment and other milestones up to $745 million, as well as tiered royalties up to double digits on net sales outside China, NextCure added.
Simcere's SIM0505 belongs to a class of drugs known as antibody-drug conjugates (ADCs), which are more targeted than conventional chemotherapy.
These therapies, also known as 'guided missiles', use antibodies to deliver toxic drugs directly to cancer cells, helping to destroy the tumor while leaving healthy cells unharmed.
U.S. drugmakers have been licensing drugs from China for potential new medicines at an accelerating pace, as they look to rebuild pipelines of future products while facing a patent cliff for the older drugs.
The experimental cancer drug is currently being tested in an early-stage trial in China. Initial data from the trial is expected in the first half of next year.
The company expects to begin studying the drug in the U.S. in the third quarter of 2025.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

South Korea seeks mutually agreeable U.S. trade package
South Korea seeks mutually agreeable U.S. trade package

Reuters

time7 minutes ago

  • Reuters

South Korea seeks mutually agreeable U.S. trade package

SEOUL, July 26 (Reuters) - South Korea will prepare a trade package that is mutually agreeable with the United States ahead of minister-level meetings planned next week and a U.S. tariff-pause deadline of August 1, the presidential office said on Saturday. The package will include shipbuilding cooperation, a sector of high interest to U.S. Commerce Secretary Howard Lutnick, who discussed the matter with South Korea's Industry Minister Kim Jung-kwan on Friday, it said in a statement. Friday's meeting was a follow-up to a meeting on Thursday, where Lutnick and Kim reaffirmed their commitment to reach a trade deal by August 1, after a joint meeting of finance ministers and top trade envoys that had been scheduled for Friday was postponed. South Korea, facing 25% tariffs, is rushing to reach a trade deal with Washington, with National Security Adviser Wi Sung-lac visiting the U.S. recently for high-level talks and Minister for Trade Yeo Han-koo also in the U.S. for negotiations, as pressure grows on officials to clinch a deal that is no worse than Japan's that cut tariffs to 15%. South Korea's trade negotiations with the U.S. have included non-tariff barriers in the agricultural and digital service sectors, but foreign exchange has not been part of trade talks beyond usual consultations, according to South Korean officials. U.S. President Donald Trump arrived in Scotland on Friday for bilateral talks with European Commission President Ursula von der Leyen on Sunday, which could yield a trade deal with the European Union, after making a deal earlier this week with Japan and the Philippines. Next week, U.S. officials will hold a new round of trade talks with China in Sweden for an extension to a separate deadline of August 12 set between the two countries. South Korea's Finance Minister Koo Yun-cheol and Foreign Minister Cho Hyun will also hold meetings with U.S. Treasury Secretary Scott Bessent and State Secretary Marco Rubio, respectively, next week.

Kotak Mahindra Bank's Q1 profits drop more than expected on higher provisions
Kotak Mahindra Bank's Q1 profits drop more than expected on higher provisions

Reuters

time37 minutes ago

  • Reuters

Kotak Mahindra Bank's Q1 profits drop more than expected on higher provisions

MUMBAI, July 26 (Reuters) - Kotak Mahindra Bank ( opens new tab, India's third-largest private lender by market capitalisation, reported a drop in first-quarter profit on Saturday, as it set aside more funds for potential bad loans and saw a contraction in lending margins. The bank's standalone net profit fell 47.5% to 32.81 billion indian rupees ($379.42 million) for the quarter ended June 30, down from year-earlier 62.5 billion rupees ($722.75 million), which included a 27.3 billion rupee gain on a stake sale of its insurance subsidiary to Zurich Insurance (ZURN.S), opens new tab last year. On average, analysts had expected a profit of 35.82 billion rupees, according to data compiled by LSEG. The lender's net interest margin, a key gauge of profitability, fell to 4.65%, from 5.02% a year earlier, reflecting the impact of the Reserve Bank of India's recent interest rate cuts. When rates are lowered, banks typically pass on the benefits to borrowers first and only later reduce deposit rates, which can temporarily squeeze margins. Meanwhile, Kotak Mahindra Bank's asset quality deteriorated, with the gross non-performing assets ratio at 1.48% at the end of June, versus 1.39% a year earlier. Indian lenders have kept a tight lid on unsecured lending after grappling with higher bad loans in that segment, a move that has helped support asset quality. The bank's provisions for bad loans more than doubled year-on-year to 12.08 billion rupees. Net interest income grew 6% to 72.59 billion rupees in the first quarter. While credit growth has slowed across the industry, Kotak Mahindra Bank's loan book expanded 13%, driven mainly by a 16% rise in loans to retail consumers. ($1 = 86.4750 Indian rupees)

South Korea to prepare mutually agreeable trade package as US tariff deadline looms
South Korea to prepare mutually agreeable trade package as US tariff deadline looms

Reuters

timean hour ago

  • Reuters

South Korea to prepare mutually agreeable trade package as US tariff deadline looms

SEOUL, July 26 (Reuters) - South Korea will prepare a trade package that is mutually agreeable with the United States ahead of minister-level meetings planned next week and a U.S. tariff-pause deadline of August 1, the presidential office said on Saturday. The package will include shipbuilding cooperation, a sector of high interest to U.S. Commerce Secretary Howard Lutnick, who discussed the matter with South Korea's Industry Minister Kim Jung-kwan on Friday, it said in a statement. South Korea's Finance Minister Koo Yun-cheol and Foreign Minister Cho Hyun will also hold meetings with U.S. Treasury Secretary Scott Bessent and State Secretary Marco Rubio, respectively, next week.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store