I-Mab Bio­pharma, ABL Bio col­lab­o­rate for in­no­va­tive bis­pe­cific Abs

BioSpectrum (Asia) - - Start-up News -

Shang­hai based startup 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 bis­pe­cific 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.

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