Adlai Nortye Enters Exclusive Licensing Agreement with ASK Pharma, Potential Revenue Up to RMB 1.6 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 29 2025
0mins
Source: NASDAQ.COM
- Exclusive Licensing Agreement: Adlai Nortye has signed an exclusive licensing agreement with Aosaikang Pharmaceutical, granting rights to develop and commercialize AN9025 in mainland China, Hong Kong, and Macao, marking a strategic expansion into high-barrier oncology drug development.
- Potential Revenue: Under the agreement, Adlai Nortye is eligible to receive up to RMB 1.6 billion (approximately USD 230 million), including over USD 20 million in upfront and milestone payments, along with tiered royalties based on net sales, significantly enhancing the company's financial position.
- Clinical Trial Plans: The company expects to initiate a Phase I clinical trial for AN9025 in Q1 2026, aiming to provide new treatment options for patients with RAS-mutated cancers, addressing significant unmet medical needs in the market.
- Portfolio Expansion: In addition to AN9025, Adlai Nortye is developing AN4035, a CEACAM5-targeting antibody-drug conjugate that has shown strong antitumor activity in RAS-addicted cancer models, further solidifying the company's oncology drug development pipeline.
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About ANL
Adlai Nortye Ltd. is a Cayman Islands-based investment holding company. The Company is involved in the research and development of pharmaceutical products. It is a clinical-stage company focused on the development of targeted and immune-modulating cancer therapies. It is advancing an oncology pipeline, with Buparlisib (AN2025), a pan-phosphoinositide 3-kinase (PI3K) inhibitor, being evaluated in a registrational Phase three trial (NCT04338399) for patients with recurrent or metastatic head and neck squamous cell cancer (HNSCC) that has progressed after prior anti-programmed death-ligand 1 (PD-L1) treatment. It is also advancing multiple drug candidates, including AN4005, an oral small molecule PD-L1 inhibitor; AN8025, a multifunctional fusion protein acting as a T cell and antigen-presenting cell (APC) modulator; and AN9025, an oral small molecule pan-rat sarcoma virus (RAS) inhibitor. The Company’s subsidiary, Alpine Bioscience Ltd. (Alpine BVI), is an investment holding company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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