Adlai Nortye (NASDAQ: ANL) entered an exclusive license agreement with ASK Pharm for its pan‑RAS (ON) inhibitor AN9025 in mainland China, Hong Kong and Macao on Dec 29, 2025. ASK Pharm gains rights to develop, manufacture, and commercialize AN9025 in the Licensed Territory while Adlai Nortye retains worldwide rights elsewhere.
The deal includes up to RMB 1.6 billion (~USD 230 million) in total consideration, an upfront payment and near‑term milestones exceeding USD 20 million, plus tiered royalties in the high single‑digit to mid‑teens on net sales in the Licensed Territory.
Adlai Nortye Enters Exclusive License Agreement with ASK Pharm for Pan-RAS (ON) Inhibitor AN9025 in Greater China
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