Minghui hands rights for cancer drug to Qilu in $38 million pact

Chinese biotech Minghui Pharmaceutical has sold certain rights to its experimental cancer drug MHB088C to Qilu Pharmaceutical in a licensing deal worth up to $177 million.

The agreement gives Qilu full development, manufacturing and sales rights to the antibody-drug conjugate (ADC) in China, Hong Kong, Macau and Taiwan. In exchange, Minghui will receive 280 million renminbi ($38 million) upfront, with the possibility of another 1 billion yuan tied to development, regulatory and commercial milestones.

In a statement announcing the deal, Minghui chief executive Guoqing Cao said the tie-up with Qilu was “a significant milestone” in the firm’s oncology strategy. Highlighting the appeal of the candidate, he said: “MHB088C has demonstrated robust efficacy with great safety profiles, with no major hematological toxicity or ILD, positioning the program as a best-in-class B7-H3 ADC.”