Pharma BD Deal Intelligence

Zhejiang Conba Pharmaceutical Co., Ltd. / Adneuris Therapeutics, Inc.

2026 · Licensing/Option · $118M · Complete

Adneuris Therapeutics, a subsidiary of Tris Pharma, granted Zhejiang Conba Pharmaceutical exclusive rights to develop and commercialize the first-in-class dual NOP/MOP receptor agonist cebranopadol for acute pain across Greater China, with an option to expand into cancer pain and other chronic pain indications. Conba pays $17.5 million upfront plus more than $100 million in development and commercial milestones and tiered double-digit royalties on net sales; Adneuris plans a U.S. FDA submission later in 2026.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

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