Qiming Venture Partners-backed Sinogen Pharma advises Genrix Bio on over $700M BCMA/CD3 out-license deal with Cullinan
SinoKin Pharmaceutical served as the business development advisor to Zhixiang Jintai, providing end-to-end commercial services that included evaluating different partnership models with several foreign biopharmaceutical companies and investment institutions, helping Zhixiang Jintai secure multiple investment agreements.
On June 5, Genrix Bio (688443.SH) announced an overseas licensing agreement with Nasdaq-listed Cullinan Therapeutics, Inc. (NASDAQ: CGEM; hereafter "Cullinan"). Sinogen Pharma, a Qiming Venture Partners incubated company, served as Genrix Bio's transaction advisor in this deal.
Under the agreement, Cullinan will obtain global development, manufacturing, and commercialization rights outside Greater China (mainland China, Hong Kong, Macau, and Taiwan) for Genrix Bio's anti-BCMA×CD3 bispecific antibody, GR1803 injection (Velinotamig). Genrix Bio will retain development, manufacturing, and commercialization rights for GR1803 injection in mainland China, and will actively advance the development of existing clinical indications and domestic approval. Genrix Bio will receive a $20 million upfront payment from Cullinan, up to $692 million in potential milestone payments, and tiered royalties on net sales outside Greater China.
This collaboration between Genrix Bio and Cullinan is expected to accelerate the global development of GR1803, facilitate its international expansion, and bring innovative treatments to patients worldwide. The partnership marks an important milestone in Genrix Bio's deepening global strategic layout and its innovative transformation.
GR1803 injection is a bispecific antibody drug independently developed by Genrix Bio for the treatment of relapsed/refractory multiple myeloma (RRMM), classified as a therapeutic biological product Category 1, targeting BCMA and CD3. In August last year, GR1803 injection was formally designated as a breakthrough therapy by the Center for Drug Evaluation, NMPA (CDE), and is currently in Phase 2 clinical trials.
In this exclusive licensing transaction, Sinogen Pharma served as Genrix Bio's BD advisor, providing end-to-end commercial services including evaluating different partnership models with several international biopharmaceutical companies and investment institutions, which enabled Genrix Bio to receive multiple term sheets. This project was led by Dr. Sixiang Zhou, Vice President of Sinogen Pharma, with the BD service team comprising Chief Business Officer Dr. Jung Lee and Dr. Han Li. The team was deeply involved in all critical stages including data room preparation and revision, project promotion, due diligence, business term negotiation and revision, and contract negotiation. They provided comprehensive, multi-layered support across life sciences and healthcare transaction and negotiation, compliance, and intellectual property, fully demonstrating Sinogen Pharma's exceptional resources and capabilities in completing cross-border biopharmaceutical licensing transactions.
Sinogen Pharma was established in March 2022, with its primary business focused on facilitating overseas licensing partnerships for biopharmaceutical companies. Founded by seasoned BD professionals, its core team members are based in Shanghai, China, as well as Boston and San Francisco in the United States. The Sinogen Pharma team brings extensive BD experience and maintains broad connections and resource networks with various types of pharmaceutical companies and investment institutions in the United States and Europe.
Since its inception, the Sinogen Pharma team has cumulatively evaluated over 300 projects, established partnerships with more than 20 domestic companies, and facilitated the completion of three transactions. The collaboration projects span small molecules, large molecules, ADCs, cell therapy, and technology platforms, with therapeutic areas including oncology, autoimmune diseases, metabolism, and central nervous system disorders.
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Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its establishment, Qiming Venture Partners has focused on investing in outstanding early and growth-stage companies in the Technology and Consumer (T&C) and Healthcare sectors.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have gone public on the New York Stock Exchange, Nasdaq, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 companies have become recognized unicorns or super-unicorns in their respective industries.
Many companies in Qiming Venture Partners' portfolio have grown into the most influential players in their fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ: BILI, 09626.HK), Zhihu (NYSE: ZH, 02390.HK), Roborock (688169.SH), UBTECH (09880.HK), WeRide (NASDAQ: WRD), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ: ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ: SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), Berry Genomics (000710.SZ), SinoCellTech (688520.SH), Yuanxin Technology, ClinChoice, Belief BioMed, Biren Technology, among others.