BRIEF: InnoCare, KeyMed in antibody licensing agree with Prolium
Biopharmaceutical company InnoCare Pharma Ltd. (9969.HK; 688428.SH) announcedon Monday that it, along with KeyMed (2162.HK) and their joint venture have signed a licensing deal for one of their products with U.S.-based biotech Prolium Bioscience Inc. The agreement grants Prolium exclusive rights to develop and commercialize ICP-B02 (CM355), a CD20×CD3 bispecific antibody, for non-oncology and oncology uses outside Asia.
Under the deal, InnoCare and KeyMed will share equally in an upfront and near-term payments totaling $17.5 million, and could receive additional milestone payments of up to $502.5 million. Both parties will also receive tiered royalties based on net sales of the product by Prolium. As part of the transaction, InnoCare and KeyMed will also acquire minority stakes in Prolium.
ICP-B02 (CM355) is designed to bind both to CD20 on tumor cells and CD3 on T-cells, redirecting and activating T-cells to eliminate tumor cells through T-cell Dependent Cellular Cytotoxicity (TDCC). This bispecific antibody has demonstrated strong potential in both oncology and non-oncology treatments. Currently, ICP-B02 (CM355) is undergoing clinical trials to assess its safety and efficacy
By Lee Shih Ta
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