Jacobio Pharmaceuticals agreed to outlicense ex‑China rights for its phase I pan‑KRAS inhibitor JAB‑23E73 to AstraZeneca in a deal worth up to $1.915 billion, with AstraZeneca responsible for development and commercialization outside China. Jacobio will receive a $100 million up‑front payment and is eligible for substantial milestone and royalty payments. The transaction gives AstraZeneca a broad KRAS franchise expansion and reflects big pharma’s continued appetite for early‑stage, high‑value oncology assets sourced from China. The companies will collaborate on development strategies in China while AZ takes lead globally.