Adlai Nortye enters exclusive license agreement with ASK Pharm for AN9025

Adlai Nortye (ANL) entered into an exclusive licensing agreement with ASK Pharm for its proprietary pan-RAS (ON) inhibitor AN9025. Under the terms of the agreement, ASK Pharm will obtain exclusive rights to develop, manufacture, and commercialize AN9025 in mainland China, Hong Kong and Macao. Adlai Nortye will retain worldwide rights to the compound excluding the Licensed Territory. Adlai Nortye is eligible to receive total consideration of up to RMB 1.6B, including an upfront payment and near-term milestone payments exceeding $20M, plus tiered royalties ranging from a high single-digit to mid-teens percentage of net product sales in the Licensed Territory.