Roche Towers in Basel, Switzerland. [Adobe Stock]
The agreement expands a relationship that began last October, when Roche licensed Hansoh’s CDH17-targeting ADC HS-20110 for $80 million upfront. This time, Roche is securing access to two existing preclinical Hansoh programs and commissioning additional candidates against targets it proposes. Hansoh will engineer those therapies and take them into early human testing.
Roche used a similar approach in August, when its Genentech subsidiary agreed to pay DualityBio $45 million upfront to develop ADCs against Genentech-selected targets. DualityBio will lead discovery and early global clinical development, with Genentech taking over after Phase Ia. The Hansoh agreement extends that approach with a substantially larger upfront commitment, giving Roche another Chinese partner to translate its target choices into experimental cancer drugs.
Several agreements give Chinese partners responsibility for creating new candidates and advancing them through early trials, including programs proposed by the multinational buyer.
| Global pharma / Chinese partner | Announced | What the agreement covers | Development responsibilities | Upfront / near-term payments |
|---|---|---|---|---|
| Roche and Genentech partnerships | ||||
| Roche / Hansoh | Oct. 2025 | Existing CDH17-targeting ADC, HS-20110 | Roche advances licensed candidate outside Hansoh’s retained territories | $80 million |
| Genentech (Roche) / DualityBio | Aug. 2026 | New ADCs against Genentech-selected targets using DualityBio’s DUPAC payloads | Discovery through global Phase Ia | $45 million |
| Roche / Defand | Oct. 2026 | Molecular glue drugs for cancer and immune diseases | Discovery and development of multiple new drugs | Undisclosed |
| Roche / Rona | Oct. 2026 | ALK7-targeting RNAi obesity candidate, worldwide rights | Existing candidate licensed | Up to $100 million (upfront and near-term) |
| Roche / Hansoh | Oct. 2026 | Two preclinical ADCs plus new programs against Roche-proposed targets | Development through global Phase Ia | $400 million |
| Other pharma partnerships | ||||
| AstraZeneca / CSPC | Jan. 2026 | Eight obesity and related disease programs, plus platform access | Initial four through Phase I; development of four additional programs | $1.2 billion |
| Bristol Myers Squibb / Hengrui | May 2026 | 13 preclinical programs: four from Hengrui, four from BMS and five for joint discovery | Leads early clinical development across the portfolio | $600 million |
| Pfizer / Innovent | May 2026 | 12 oncology programs (ADCs and multispecific antibodies): eight Innovent-originated, four Pfizer-proposed | Development through Phase I; co-develops four programs globally | $650 million |
| Eli Lilly / InnoCare | Sept. 2026 | Compounds against up to five undisclosed targets | Discovery and early advancement; Lilly handles later development | Up to $100 million (upfront and near-term) |
Note: Selected agreements, not a comprehensive deal list. Amounts are in U.S. dollars and represent upfront payments unless otherwise indicated. Near-term payments may depend on specified conditions. Additional milestones and royalties vary by agreement. Program counts, territorial rights and development responsibilities also differ. Company names link to sources.
Under the latest agreement, Hansoh will lead development through global Phase Ia trials. Roche will then assume responsibility for further development outside mainland China, Hong Kong, Macau and Taiwan, where Hansoh retains rights. Alongside the $400 million upfront payment, Hansoh will receive $110 million on the agreement’s first anniversary and could earn more than $15 billion in development, regulatory and commercial milestones, plus royalties on future sales.
Hansoh also has the option to contribute to development of up to two programs outside its retained territories in exchange for additional commercial upside in the United States.
AstraZeneca has also turned to a Chinese partner to develop candidates through early human trials, signing a Jan. 30 agreement with CSPC Pharmaceutical covering eight programs for obesity and related diseases. The $1.2 billion upfront commitment includes access to CSPC’s peptide discovery and once-monthly dosing technologies. CSPC will take the initial four programs through Phase I while developing four additional programs, with AstraZeneca assuming later development and commercialization in its licensed territories following successful Phase I completion.
Big pharma now gets a significant share of its in-licensed drugs from China. According to DealForma data published by J.P. Morgan, Chinese assets accounted for 39% of global large-cap biopharma licensing deals with upfront payments of at least $50 million in 2025 through Dec. 15, and 32% of upfront payments within that group.
Filed Under: Drug Discovery, Oncology
