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Deal includes upfront payment and potential milestone payments.
Adlai Nortye Ltd. (Nasdaq: ANL) and ASK Pharm have entered into an exclusive licensing agreement for Adlai Nortye's proprietary pan-RAS (ON) inhibitor AN9025 in Greater China on December 29, 2025. The agreement includes an upfront payment of USD 20 million and potential milestone payments of up to RMB 1.6 billion (approximately USD 230 million) based on the achievement of certain development and commercial milestones.
Adlai Nortye will receive high single-digit to mid-teens percentage tiered royalties on net sales of AN9025 in the licensed territory. The agreement grants ASK Pharm exclusive rights to develop, manufacture, and commercialize AN9025 in Greater China.
Adlai Nortye Ltd. has a free float of 66,715,000 shares.
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