Select Language:
Kelun-Biotech Biopharmaceutical has granted Crescent Biopharma the rights to an antibody-drug conjugate targeted cancer therapy in a deal valued at over $1.3 billion. Additionally, the US-based company will license its tetravalent bispecific antibody, which targets programmed cell death protein 1 and vascular endothelial growth factor, to the innovative drug development subsidiary of the Chinese pharmaceutical company.
According to the agreement, Crescent Biopharma will make milestone payments reaching up to $1.3 billion linked to the development of Kelun-Biotech’s investigational drug SKB105. The company will also pay an initial down payment of $80 million and royalties ranging from 5% to 15% on sales to secure exclusive global rights outside of the United States, Europe, and China. The company announced this late yesterday.
Furthermore, Kelun-Biotech will receive milestone payments up to $30 million, an upfront payment of $20 million, and around 5% royalties on sales for the exclusive commercialization rights of Crescent Biopharma’s experimental drug CR-001 in China.
Both drugs are expected to enter monotherapy clinical trials early next year. The two companies will also collaborate to evaluate the potential of combination therapy involving these two candidates in the future.
CR-001 will enhance and diversify Kelun-Biotech’s oncology research and development pipeline. Licensing SKB105 will support the company’s efforts to expand into international markets and bolster revenue growth. The collaboration is also set to broaden the firm’s global network for developing new drugs.
Kelun-Biotech plans to accelerate the clinical development of these new therapies while adhering to the highest international standards. By leveraging China’s extensive clinical resources and efficient execution capabilities, the goal is to maximize the global therapeutic potential of these drugs.
Shares of Kelun-Biotech increased by 2.5% to HKD 460.00 (about USD 59.10) in Hong Kong today. Meanwhile, Kelun Pharma closed 1.1% lower at CNY 33.73 (approximately USD 4.77) in Shenzhen. In New York, Crescent Biopharma’s stock dropped 3.1%, trading at USD 12.99 yesterday.
ChatGPT
Perplexity
Gemini AI
Grok AI
