Senru Pharmaceutical: Received $40 million milestone payment.

Senhui Pharmaceutical announced that the company has received a payment of $40 million from AbbVie. This payment is a milestone payment made in accordance with the terms of the SIM0500 overseas licensing option agreement previously signed by both parties. The agreement includes an initial payment, as well as optional rights and milestone payments that could amount to a maximum of $1.055 billion. SIM0500 is a humanized GPRC5D-BCMA-CD3 trispecific antibody that shows potent T-cell cytotoxic effects against MM cells. This payment reflects the positive progress in the collaboration between both parties in advancing the clinical development of SIM0500.