QYUNS-B (02509) announced that on December 19, 2025, the company entered into a licensing and collaboration agreement with LE2025 Therapeutics AG (LE2025), a subsidiary of Windward Bio Group AG (Windward Bio). The agreement grants LE2025 exclusive rights to develop and commercialize QX027N globally, excluding Mainland China, Taiwan, Hong Kong SAR, and Macau SAR (the licensed territories). In return, the company or its designated affiliates (collectively referred to as the "Group") will be entitled to receive payments totaling up to $700 million, including an upfront payment, equity in Windward Bio, development and commercial milestone payments, as well as tiered royalties based on QX027N's net sales in the licensed territories. QX027N is a long-acting anti-TSLPxIL-13 bispecific antibody independently developed by the company.
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