China-Based Jemincare Inks Prostate Cancer Drug Pact With Roche's Genentech - Roche Holding (OTC:RHHBY), Roche Holding (OTC:RHHBF), Roche Holding (OTC:RHHVF)

After penning a deal with Orion in May for a non-opioid pain drug, Jemincare is back at the licensing deal table, inking a development and sales deal with Roche Holdings AG's RHHBY Genentech unit for a prostate cancer drug.
In return, Genentech will get a worldwide license to develop the program, known as JMKX002992, and bring it to market.
JMKX002992 is a novel oral degrader of the androgen receptor, a confirmed disease driver in prostate cancer.
The company says JMKX002992 has the potential to treat prostate cancer patients who have developed resistance to current therapies.
Genentech will pay Jemincare a $60 million upfront payment. Jemincare is entitled to receive up to $590 million in additional milestone payments and tiered royalties on net sales.
"Certain forms of prostate cancer can be particularly difficult to treat. Jemincare's novel oral androgen receptor degrader will complement our efforts to develop new treatment options for patients with advanced prostate cancer," said James Sabry, global head of Roche pharma partnering.
Jemincare is partnered with Orion to develop a selective NaV 1.8 blocker to treat acute and chronic pain.