Keymed Biosciences Grants Beleons Out-License Agreement for Bispecific Antibodies

MT Newswires Live07-09

Keymed Biosciences (HKG:2162) granted Belenos Biosciences an out-license agreement for the development, manufacturing, and commercialization of Keymed's CM512 and CM536 drug candidates, according to a Tuesday filing with the Hong Kong Stock Exchange.

Both CM512 and CM536 are bispecific antibodies. They bind together with targets to treat diseases such as cancer.

The company, through subsidiary Keymed Biosciences (Chengdu), will be eligible for an upfront payment of $15 million while another subsidiary, iBridge HK Holdings, will obtain a 30.01% stake in Belenos as payment, the filing said.

Chengdu Keymed will also be eligible for tiered royalties from Belenos from net sales, the filing said. Belenos will also shoulder development, regulatory, and commercialization activities for the drug outside the Greater China region.

Belenos will also obtain the right to source supply for the drugs in the needed quantities for clinical trials, the filing said.

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