Oct 8 (Reuters) - Zenas BioPharma ( ZBIO ) said on Wednesday it has

secured global rights to develop and commercialize an experimental drug from

China-based InnoCare Pharma for multiple sclerosis and other

autoimmune conditions under a licensing deal potentially worth more than $2

billion.

The deal grants Zenas worldwide rights to the drug, orelabrutinib, outside

oncology. The U.S.-based drug developer will pay up to $100 million in upfront

and near-term milestone payments and issue up to 7 million shares of common

stock to InnoCare.

The agreement also covers two additional drug candidates, both slated for

early-stage trials next year.

Orelabrutinib is being tested in a late-stage trial for a type of multiple

sclerosis, a chronic disease that affects the central nervous system, with

another due to begin in early 2026.

The total of the upfront payment, near-term milestone and potential

development and regulatory milestone payments, along with potential commercial

sales milestones across all three programs, exceeds $2 billion, Zenas said.

"With this transaction, we have established a balanced portfolio ... with

best-in-class blockbuster potential across multiple therapeutic areas," Zenas

CEO Lonnie Moulder said.

Orelabrutinib is already approved for types of blood cancer in China and

Singapore, where it is marketed as Yinuokai and Hibruka, respectively.

Zenas also announced a $120 million private placement to fund development of

the programs.