Biogen and Innocare Announce License and Collaboration Agreement for Orelabrutinib for the Treatment of Multiple Sclerosis

Biogen, Inc. and InnoCare Pharma Limited entered into a license and collaboration agreement for orelabrutinib (ICP-022), an oral small molecule Bruton’s tyrosine kinase inhibitor (BTKi) for the potential treatment of multiple sclerosis. Under the terms of the agreement, Biogen will have exclusive rights to orelabrutinib in the field of MS worldwide and certain autoimmune diseases outside of China (including Hong Kong, Macau and Taiwan), while InnoCare will retain exclusive worldwide rights to orelabrutinib in the field of oncology and certain autoimmune diseases in China (including Hong Kong, Macau and Taiwan). InnoCare will receive a $125M upfront payment and is eligible to receive up to $812.5M in potential development milestones and potential commercial payments should the collaboration achieve certain development, commercial milestones and sales thresholds. InnoCare is also eligible to receive tiered royalties in the low to high teens on potential future net sales of any product resulting from the collaboration.