On October 17, 2025, AskGene Pharma, Inc. (“AskGene”), a subsidiary of ASK, announced that it has entered into an exclusive licensing agreement with Visara, Inc. (“Visara”) for ASKG712, a Class 1 innovative drug developed independently by AskGene that targets VEGF/ANG-2. Under the agreement, AskGene has granted Visara exclusive rights to develop, manufacture, and commercialize ASKG712 in Greater China, Singapore, Thailand, Malaysia, Indonesia, Vietnam, South Korea, and India.
According to the agreement, Visara will pay AskGene a one-time, non-refundable, non-creditable upfront payment of USD 7 million. AskGene is eligible to receive up to USD 89 million in milestone payments tied to development, registration, and commercialization milestones. Additionally, AskGene will receive tiered royalties based on the annual net sales of the product within the licensed territories. Visara will obtain exclusive rights for the development, production, and commercialization of the project within these licensed regions.
This licensing agreement is expected to accelerate the development and commercialization of ASKG712 in the licensed territories and allows the company to further focus its innovative drug pipeline on therapeutic areas including gastroenterology, oncology, anti-infectives, and chronic diseases, aligning with the company’s overall strategic direction.