Ipsen struck a licensing agreement with Shanghai‑based Simcere Zaiming to acquire ex‑China rights to SIM‑0613, an LRRC15‑targeting antibody‑drug conjugate, in a deal potentially worth $1.06 billion. The ADC showed robust tumor regressions in preclinical models and is expected to enter a phase 1 trial in the second half of next year. The agreement follows Ipsen’s prior ADC investments and is part of a broader strategy to bolster oncology offerings with targeted cytotoxics. Simcere will continue development and collaboration inside China while Ipsen manages global development and commercialization outside Greater China. The transaction adds to a wave of big pharma deals for ADCs and validates LRRC15 as a clinically actionable tumor target and a priority for oncology dealmaking.