Pharma BD Deal Intelligence

ASKA Pharmaceutical Co., Ltd. / Minghui Pharmaceutical

2026 · Licensing/Option · $440M · Complete

Minghui Pharmaceutical granted ASKA Pharmaceutical Co., Ltd. (a subsidiary of ASKA Pharmaceutical Holdings, TSE: 4886) an exclusive licence to develop, seek approval for and commercialise MHB018A in Japan, announced 4 November 2026. Minghui receives $110 million upfront and is eligible for up to $330 million in development, regulatory and commercial milestones plus tiered royalties up to the mid-30% range on Japanese net sales; Minghui retains all rights outside Japan. MHB018A is a humanised, subcutaneously administered single-domain (VHH-Fc) antibody against the insulin-like growth factor 1 receptor (IGF-1R) for thyroid eye disease. Phase 2 is complete, with Phase 3 underway across four randomised pivotal studies. NOTE: ingested at pending_review by bd-enrichment-2026-11-04.

Key facts

• Announced Nov 04, 2026
• Closed Nov 04, 2026
• Deal value $440M
• Deal type Licensing/Option

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