05:42 AM EDT, 10/08/2025 (MT Newswires) -- Zenas BioPharma ( ZBIO ) has been granted a license for the global development and commercialization rights to orelabrutinib for multiple sclerosis and all therapeutic areas other than oncology from InnoCare Pharma, the companies said Wednesday.

Zenas has also secured rights to two other drug candidates from InnoCare, the companies said.

Under the license agreement, Zenas will pay InnoCare upfront and near-term milestone payments of up to $100 million in cash, including milestones expected next year, and up to 7 million of its shares, including shares issuable on a milestone expected next year, the companies said.

The potential total of all payments exceeds $2 billion, the companies said

In addition, InnoCare is to receive tiered royalties of up to high teens percent on annual net sales of the licensed products, the companies said.

Zenas will retain the exclusive right to develop, manufacture and commercialize orelabrutinib in MS globally, and non-oncology fields in all territories outside Greater China and Southeast Asia, while InnoCare retains full global rights in the field of oncology, the companies said.

Zenas will also have the exclusive right to develop, manufacture and commercialize one of the other therapies everywhere outside Greater China and Southeast Asia, and the second globally, the companies said.

Zenas plans to initiate a phase 3 clinical trial to evaluate orelabrutinib in Q1, the companies said.

Zenas shares were up 7% in recent premarket activity.