Zenas rises on licensing deal for autoimmune drug potentially worth over $2 billion

Zenas BioPharma

08/10/2025 11:59

** U.S. drug developer Zenas BioPharma ZBIO.O shares rise 9% to $22.71 in premarket trade

** Co inks licensing deal worth over $2 bln with China’s InnoCare 688428.SS for multiple sclerosis drug orelabrutinib

** Progressive MS is a chronic nerve disease that worsens over time, according to National Institutes of Health

** InnoCare to get up to $100 mln upfront, near-term milestone payments, and up to 7 mln ZBIO shares

** The total of the upfront and milestone payments exceeds $2 bln - ZBIO

** ZBIO gets rights to develop, make and sell orelabrutinib outside China and Southeast Asia; InnoCare retains global oncology rights

** ZBIO starts late-stage trial in primary progressive MS; secondary trial planned for 2026

** Up to last close, stock up ~155% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com;))