Ipsen signed an ex‑China agreement to access SIM0613, an LRRC15‑targeting antibody‑drug conjugate (ADC) from Shanghai’s Simcere, in a deal that could be worth as much as $1.06 billion, the company announced. Ipsen disclosed plans to initiate a phase 1 trial in the second half of next year and said upfront, development, regulatory and commercial milestones drive the headline value. Earlier reporting showed Ipsen paid smaller upfront fees for ADC access in a separate 18‑month arrangement with Simcere Zaiming, underscoring a broader, stepped approach to sourcing ADC assets. LRRC15 is expressed on multiple tumor types and cancer‑associated fibroblasts; preclinical models showed robust tumor regressions, and Ipsen framed the acquisition as central to its oncology build‑out.