Ipsen has added a Chinese-developed antibody drug conjugate (ADC) to its pipeline in a deal that could top $1bn, cementing the anti-tumour modality’s status as one of the standout performers in dealmaking in 2025.
The French drugmaker has signed a licensing deal with Simcere Zaiming for SIM0613, an ADC asset due to start clinical development in 2026. The agreement sees Ipsen secure global rights for the cancer treatment outside of Greater China, with Simcere Zaiming eligible for upfront, development, regulatory and commercial milestone payments that could reach $1.06bn.
Ipsen will have manufacturing rights, along with taking charge of Phase I preparation activities and submission of regulatory applications. The therapy has demonstrated “robust tumour regressions in multiple in vivo preclinical models”, according to Ipsen. The pharma company is eyeing the launch of a Phase I trial evaluating SIM0613 in cancer patients in the second half of 2026.
SIM0613 targets the leucine-rich repeat-containing 15 (LRRC15), a protein highly expressed on various tumour types and cancer-associated fibroblasts but with limited expression on normal cells. Like other ADCs, the drug works in a targeted approach, killing cancer cells while sparing healthy ones.
Ipsen first looked to add an ADC to its portfolio via a deal that would have been worth up to $900m with Sutro Biopharma in April 2024, though it decided not to advance the asset involved in the transaction. A second ADC was added just a few months later in July via a $1bn pact with Foreseen Biotechnology.
Ipsen’s head of R&D, Christelle Huguet, said: “Today’s announcement underscores our bold vision to lead innovation and shape the future of oncology.”
Ipsen has been making a major push in oncology as it aims to become a major player in the sector. The company has added more than 20 early-stage programmes since 2020.
Many pharma companies have invested heavily in ADC deals this year as a means of accessing the market’s growth. ADCs are a rapidly growing drug class, with forecast revenues soaring to over $45bn by 2030, according to analysis by GlobalData, parent company of Pharmaceutical Technology.
In January 2025, Boehringer Ingelheim spent $1.3bn on a licensing deal with Synaffix for ADC technology on several undisclosed targets. Roche has signed three ADC deals this year, with the latest dating back to March via an agreement with Oxford BioTherapeutics that could surpass $1bn. Earlier in December, US-based Crescent Biopharma outlaid $1.25bn for China-based Kelun-Biotech’s ITGB6-directed ADC.