Minghui Licenses TED Antibody MHB018A to ASKA for USD 110M Upfront
HANGZHOU – November 04, 2026 -- Minghui Pharmaceutical will receive an upfront payment of USD 110 million from ASKA Pharmaceutical under an exclusive license for MHB018A in Japan, with up to USD 330 million in further milestone payments on offer.
MHB018A is a subcutaneously administered antibody targeting insulin-like growth factor 1 receptor (IGF-1R) for thyroid eye disease (TED). ASKA gains exclusive rights to develop, seek regulatory approval for and commercialize the drug in Japan. Minghui keeps all rights outside Japan and continues to lead global development.
Deal combines USD 440 million in headline value with royalties up to mid-30%
Minghui is eligible for development, regulatory and commercial milestones totaling up to USD 330 million, on top of the USD 110 million upfront. It will also receive tiered royalties of up to mid-30% on net sales in Japan.