Chinese Biotech Signs Up To $1.53 Billion Global License Deal For Preclinical Tri-Specific Antibody

A domestic biopharmaceutical company has signed an exclusive licensing agreement with a global multinational drugmaker for its independently developed tri-specific antibody candidate, giving the partner worldwide rights to develop, manufacture and commercialize the drug, according to Jiemian News. The deal carries potential total consideration of up to $1.53 billion, including a $75 million upfront payment and up to $1.455 billion in milestone payments, plus tiered royalties on net sales. The candidate is still in the preclinical stage, and the agreement is the latest example of an early-stage Chinese innovative drug asset winning recognition from a multinational pharmaceutical company.