We advised GSK on the transaction

Davis Polk advised GSK in connection with an exclusive license agreement with Hansoh Pharma. Under this agreement, Hansoh grants GSK an exclusive license for the development and commercialization of HS-20093 in all countries other than mainland China, Hong Kong, Macau and Taiwan. HS-20093 is a novel B7-H3-targeted antibody-drug conjugate composed of a fully humanized anti-B7-H3 monoclonal antibody covalently linked to topoisomerase inhibitor (TOPOi) payload. HS-20093 is being developed for the treatment of lung cancer, sarcoma, head and neck cancers, and other solid tumors in multiple Phase I and II clinical trials in China. Under the terms of this agreement, GSK will pay $185 million upfront. In addition, Hansoh will be eligible to receive up to $1.525 billion in success-based milestones for HS-20093. Upon commercialization of HS-20093, GSK will pay tiered royalties on global net sales outside of China’s mainland, Hong Kong, Macau and Taiwan. The transaction is expected to close in the first quarter of 2024, following satisfaction of customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

GSK is a global biopharma company with a purpose to unite science, technology and talent to get ahead of disease together.

Hansoh is a Chinese biopharmaceutical company committed to discovering and developing life-changing medicines to help patients conquer serious diseases and disorders.

The Davis Polk IP, tech and commercial transactions team included partner David R. Bauer and counsel Samantha Lefland. The tax team included partner William A. Curran. The antitrust and competition team included partner Jesse Solomon, counsel Mary K. Marks and associate Benjamin J. Hartman. Members of the Davis Polk team are based in the New York and Washington DC offices.

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