AstraZeneca paid Jacobio Pharmaceuticals $100 million upfront for ex-China rights to JAB-23E73, a clinical-stage pan-KRAS inhibitor, in a deal that could reach about $1.9 billion. AstraZeneca will take responsibility for global development and commercialization outside China while co-developing and co-commercializing in China under shared terms. The transaction accelerates AstraZeneca’s push into KRAS-targeted oncology and transfers a potentially broad-spectrum KRAS asset into the company’s global clinical engine. For Jacobio, the upfront cash and milestone structure de-risks its program while preserving China co-development upside—an increasingly common model in China-to-global out-licensing.