INNOCARE (09969) and PROLIUM sign a development and commercialization license agreement for ICP-B02 (CM355).

INNOCARE (09969) announced that its wholly-owned subsidiary Beijing INNOCARE Medical Technology Co., Ltd., and Connoah Bio Medicine Technology Limited (stock code: 02162), and its subsidiary Connoah Bio Medicine Technology (Chengdu) Limited, as well as the joint venture company Beijing Tiannuo Jiancheng Medical Technology Co., Ltd. (owned equally by Beijing INNOCARE and Chengdu Connoah) have entered into an exclusive licensing agreement with Prolium Bioscience Inc. for the development and commercialization of the CD20CD3 bispecific antibody ICP-B02 (CM355). ICP-B02 (CM355) is designed to bind to CD20 on tumor cells and CD3 on T cells, redirecting and activating T cells to eliminate tumor cells through T cell-mediated cytotoxicity (TDCC). This bispecific antibody has shown strong potential in both oncology and non-oncology fields. Currently, ICP-B02 (CM355) is undergoing clinical trials to evaluate its safety and efficacy. Under the agreement, Prolium has been granted exclusive rights globally in the non-oncology field and in the global oncology field excluding Asia, to develop, register, produce, and commercialize ICP-B02 (CM355). Beijing INNOCARE and Chengdu Connoah each hold a 50% stake in ICP-B02 (CM355), and future collaboration profits will be split equally between them. Beijing INNOCARE and Chengdu Connoah will receive an initial payment of $17.5 million and near-term payments in total, in a 50:50 ratio, and may be eligible to receive additional milestone payments of up to $502.5 million based on specific clinical, regulatory, and commercial milestones. Additionally, both parties will receive tiered royalties on future net sales of the product. As part of the transaction, Beijing INNOCARE and Chengdu Connoah (or their designated individuals) will also have the right to acquire a minority stake in Prolium.