Roche and Hansoh sign a second, much larger ADC collaboration
- Roche and China's Hansoh signed a collaboration on a portfolio of early-stage antibody-drug conjugates, its second ADC deal after a 2025 CDH17 ADC license.
- Reports put the upfront at about $400 million plus a further $110 million after a year, with total potential payments above $15 billion and royalties.
- Hansoh leads early development through global phase 1a, after which Roche takes over development outside Greater China.
💡 Points
The structure is the story: a platform-style deal where the licensor runs the work through phase 1a looks like Roche buying options on China's early ADC output rather than a single asset. A headline above $15 billion is mostly back-end milestones, so the real signal is a near-$500 million near-term cash commitment. It also keeps Roche in the race with Merck, Pfizer and AstraZeneca for Chinese ADC supply.
Licensing galore: Roche ties up with Hansoh on ADCs as Rani rounds out week with Chugai pact ↗