A subsidiary of Jiangxi Jemincare Group Co. Ltd. has out-licensed global rights to its androgen receptor degrader JMKX-002992 to Roche Holding AG and its subsidiary Genentech Inc. in a deal worth up to $650 million. Shanghai Jemincare Pharmaceutical Co. Ltd. will receive $60 million up front and is eligible to collect up to $590 million for achieving development, regulatory and sales-based milestone targets.