China based I-Mab Biopharma, a company focusing on innovative biologics in immuno-oncology and immuno-inflammation, and ABL Bio Corporation, a South Korean biotechnology company, have entered into a strategic partnering agreement for ABL Bio to in-license the global rights excluding Greater China to I-Mab’s bispecific antibodies (BsAb) of undisclosed target with licensing payments of approximately $100 million in total. The two companies also agreed on a collaboration to co-develop additional BsAbs as part of the partnership.
Under the terms of the agreement, ABL Bio will pay $2.5 million in upfront payment. I-Mab will also receive research & development, regulatory and sales-based milestone payments, which could result in aggregate payments of $100 million from ABL Bio. In addition, ABL Bio will pay tiered royalties on net sales. The partnership also includes three more collaborative bi-specific antibody projects. I-Mab and ABL Bio will share the development cost as well as rights in China, South Korea and rest of the world in different configurations.
You must be logged in to post a comment.