KEYMED BIO-B(02162): Exclusive licensing agreement signed with Platina Medicines Ltd.

KEYMED BIO-B (02162) announced that on November 17, 2024, Knoty BioPharmatech (Chengdu) Co., Ltd. (Chengdu Knoty, a wholly-owned subsidiary of the company) has entered into an exclusive licensing agreement with Platina Medicines Ltd (PML). The licensing agreement grants PML exclusive rights to develop, manufacture, and commercialize CM336 globally (excluding mainland China, Hong Kong, Macau, and Taiwan). CM336 is a bispecific antibody developed by the company. Under the terms and conditions of the licensing agreement, PML is granted exclusive license to research, develop, register, manufacture, and commercialize CM336 in the licensed territories. In return, the group will receive an upfront payment and milestone payments totaling $16 million, as well as a minority equity stake in Ouro Medicines, LLC, a subsidiary of PML and the owner of all PML shares. The group may also receive additional payments of up to $6.1 billion upon reaching certain clinical, regulatory, and commercial milestones, and is entitled to receive tiered royalties on sales of CM336 and related products from PML. The group is responsible for providing assistance to facilitate technology and knowledge transfer. Unless otherwise agreed, PML will bear all expenses related to the development of CM336 in the licensed territories. As part of the licensing agreement, PML and the group will enter into a clinical supply agreement, under which PML will procure clinical supply of CM336 from the group. The board believes that entering into the licensing agreement is in the best interests of the company and its shareholders. The company will also use this opportunity to further strengthen its global collaboration network through its innovative partnership model and maximize the scientific and commercial value of its technology platform.