KEYMED BIO-B (02162) has entered into an agreement with Prolium for the development and commercialization of CM355.

KEYMED BIO-B (02162) announced that Chengdu Connoya, Beijing INNOCARE, and their joint venture have entered into an agreement with Prolium for the development and commercialization of CM355. According to the terms of the agreement, Prolium will have exclusive rights to develop, register, manufacture, and commercialize CM355 for non-oncology indications globally and for oncology indications outside of Asia. Payments under the agreement will be evenly split between Chengdu Connoya and Beijing INNOCARE. CM355 is a CD20CD3 bispecific antibody that redirects and activates T cells by binding to CD20 on tumor cells and CD3 on T cells, leading to T cell-mediated cytotoxicity (TDCC) and the elimination of tumor cells. This bispecific antibody has shown strong potential in both oncology and non-oncology fields. Currently, CM355 is undergoing clinical trials to assess its safety and efficacy. Based on their respective 50% ownership in the joint venture, Chengdu Connoya and Beijing INNOCARE will jointly be entitled to receive an upfront payment and near-term payments totaling $17.5 million, additional payments of up to $503 million, and tiered royalties on net sales payable to Prolium. These payments are contingent on the achievement of various commercial, clinical development, and regulatory milestones. The group and INNOCARE group will also have minority ownership in Prolium.