AstraZeneca paid $100 million up front to secure ex‑China rights to Jacobio Pharmaceuticals’ phase I pan‑KRAS inhibitor, in a deal worth up to roughly $1.9 billion in milestones. The agreement gives AstraZeneca global development and commercialization responsibilities outside China while Jacobio retains rights in China and will co‑develop domestically. AstraZeneca’s move accelerates its KRAS franchise expansion and signals continuing big‑pharma appetite for early‑stage, potentially best‑in‑class oncology assets sourced from China. The arrangement also illustrates the growing two‑way flow of oncology innovation between China and western pharmas, combining Chinese trial speed with multinational development networks. Investors and competitors will track early clinical readouts and biomarker strategies, since pan‑KRAS coverage and tumor selectivity remain key technical and regulatory questions for this class.