Roche Pays Hansoh $400M Upfront for New Cancer ADC Programs

Roche has signed a second antibody-drug conjugate (ADC) deal with China's Hansoh Pharmaceutical. Roche will pay $400 million upfront for a portfolio of early cancer programs. Hansoh announced the deal on Monday, Oct. 19.

What happened

Hansoh brings two ADCs that are already in preclinical development. It will also build new ADCs against targets that Roche proposes, using its own ADC technology, Fierce Biotech reported.

The main terms, as the trade press reported them:

• Upfront: $400 million, plus $110 million on the first anniversary of the deal.
• Milestones: Fierce Biotech put development, regulatory and commercial milestones at up to $15 billion. Drug Discovery and Development reported more than $15 billion. Royalties on any sales would come on top.
• Split of work: Hansoh takes each program as far as early global Phase Ia studies. From there, Roche runs development everywhere except mainland China, Hong Kong, Macau and Taiwan. Those markets stay with Hansoh.
• Co-funding option: Hansoh can choose to pay into up to two programs outside its own territories in return for more U.S. commercial upside.

The companies did not name the drugs or the diseases involved, BioPharma Dive reported.

Why it matters

This is Roche's second ADC deal with Hansoh. In October 2025, Roche licensed HS-20110, a Hansoh ADC aimed at CDH17, for $80 million upfront. Fierce Biotech said that earlier deal also carried $1.45 billion in potential payments.

The new pact is much larger and covers several programs at once. It also adds to a fast run of China deals for Roche. According to BioPharma Dive data, it is Roche's sixth China deal since late August, putting Roche well ahead of other big drugmakers this year.

Roche is not alone. Citing DealForma data published by J.P. Morgan, Drug Discovery and Development said Chinese assets made up 39% of large-cap biopharma licensing deals with upfront payments of at least $50 million in 2025.

Hansoh already has other big partners. Fierce Biotech noted its work with GSK, Merck & Co. and Regeneron.

What it means for people in the industry

The sources do not report any new jobs, sites or hiring linked to this deal. Under the terms, the early design work and Phase Ia trials sit with Hansoh. Roche's own development work starts only after that stage.

What to watch:

• Which targets and cancers the programs will address, once the companies disclose them.
• When the first programs enter Phase Ia trials.
• Whether Hansoh uses its option to co-fund up to two programs.
• Whether Roche keeps up its pace of licensing deals with Chinese drug developers.

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Sources

• Roche returns to China's ADC powerhouse Hansoh for $15B biobucks pact, Fierce Biotech
• Roche picks cancer targets, Hansoh builds the ADCs in deal with $400 million upfront, Drug Discovery and Development
• Roche inks $15B ADC pact with Hansoh; Veradermics scores in another baldness study, BioPharma Dive