On May 28, 2026, Chongqing Genrix Biopharmaceutical Co., Ltd. (“Genrix Bio”) announced that it signed an exclusive licensing agreement with Chongqing Yaopharma Pharmaceutical Co., Ltd. (“ YaoPharma”), a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Under the agreement, YaoPharma will obtain exclusive rights in the Greater China region (including Hong Kong, Macau and Taiwan) for the clinical development and commercialization of the anti-BCMA×CD3 bispecific antibody Velitomab Injection (GR1803 Injection), as well as exclusive rights relating to process development and manufacturing. The collaboration aims to integrate the strengths and resources of both parties to accelerate the accessibility of this innovative therapy in China and bring new hope to patients.
Under the terms of the agreement, YaoPharma will pay Genrix Bio upfront and milestone payments of up to RMB 1.82 billion, including an upfront payment of RMB 300 million, up to RMB 300 million in regulatory approval and technology transfer milestone payments, and up to RMB 1.22 billion in sales-based milestone payments tied to net sales. In addition, Genrix Bio will be entitled to tiered royalties ranging from high single-digit to low double-digit percentages based on net sales of GR1803 Injection in the licensed territory. The agreement became effective upon execution and will remain in force until the expiry of the royalty term for the licensed products in the licensed territory.
GR1803 is a bispecific antibody simultaneously targeting BCMA and CD3. It is classified as a Class 1 therapeutic biologic and is intended for the treatment of adult patients with relapsed or refractory multiple myeloma (RRMM) who have received at least three prior lines of therapy. In January 2026, GR1803 was submitted to China’s National Medical Products Administration (NMPA) for conditional approval and was accepted for review. It has also been included in the priority review pathway. In addition to the RRMM indication, Genrix is actively exploring the application of GR1803 in autoimmune diseases, with clinical trials for systemic lupus erythematosus progressing steadily. Notably, in June 2025, Genrix entered into an overseas exclusive licensing agreement for GR1803 with Nasdaq-listed Cullinan Therapeutics, Inc., with a total deal value exceeding USD 700 million, demonstrating international recognition of the product’s global clinical development potential.
The collaboration with YaoPharma marks a further step in Genrix Bio’s innovative drug commercialization strategy. By partnering with YaoPharma, another Chongqing-based pharmaceutical company with strong industrial capabilities, Genrix Bio will be able to combine its R&D strengths in GR1803 with YaoPharma’s manufacturing and commercialization expertise. Thus, they can significantly enhance GR1803 Injection’s accessibility and market penetration in China.
The collaboration also lays a solid foundation for broader cooperation between the two parties in the biopharmaceutical sector. Following the anticipated approval and launch of GR1803, the parties are expected to jointly explore other products and therapies for the vast oncology and autoimmune disease markets.
Genrix Bio is an innovative biopharmaceutical company driving to solve significant unmet clinical needs through its strength in antibody discovery technologies. The company focuses on three major therapeutic areas: autoimmune diseases, infectious diseases and oncology. It is committed to the continuous development of monoclonal antibodies, bispecific antibodies, and multispecific antibodies. It has established a fully integrated antibody drug value chain spanning molecular discovery, process development and quality research, clinical development, and large-scale commercialization.
Fangda Partners provided comprehensive legal services to Genrix Bio in this transaction. The Fangda team was led by partners Henry HE and Josh SHIN. Team members included Audrey LUO, Yara YANG, Ida LIU and YUAN Yue.