Shanghai-based biopharmaceutical company Shanghai Henlius Biotech, Inc. (HKG: 2696) said on Monday it has agreed a strategic collaboration with generic biosimilars company Sandoz Group AG (SIX: SDZ; OTCQX: SDZNY) covering up to 10 proposed monoclonal antibody and antibody-drug conjugate biosimilars.

The parties have also signed terms for three initial assets and an option for one further product. Sandoz will pay Henlius up to USD322m in upfront, milestone and option fees, with up to USD100.5m expected to be invoiced in 2026.

Building on their April 2025 partnership for Henlius' proposed ipilimumab biosimilar HLX13, the new agreement grants Sandoz exclusive registration and commercialisation rights outside China for up to 10 products, most of which remain at early development stages.

The collaboration spans development, regulatory submissions, manufacturing, launch and lifecycle management. Henlius will lead development, manufacturing and supply, while Sandoz will contribute global market insights and commercial capabilities across its portfolio of around 1,300 medicines in roughly 100 countries.

Initial assets include HLX05-N, a proposed cetuximab biosimilar; HLX16, a proposed evolocumab biosimilar; and a proposed belimumab biosimilar, with an option on HLXTE-HAase1001, a recombinant human hyaluronidase.

Territories for HLX05-N include the United States, Canada, the European Union, the United Kingdom, Switzerland, Japan, Australia and New Zealand, with semi-exclusive rights in parts of Asia and other markets.