LEPU BIO-B (02157) has entered into an exclusive licensing agreement for the innovative ADC MRG007.

LEPU BIO-B (02157) announces that on January 22, 2025, the company entered into an exclusive license agreement with ArriVent Biopharma, Inc. (listed on the NASDAQ global market with stock code: AVBP). According to the agreement, the company granted ArriVent an exclusive license to develop and commercialize the group's innovative antibody-drug conjugate MRG007 globally (excluding Greater China). Under the license agreement, the company granted ArriVent: (i) an exclusive license to the group's owned or controlled intellectual property related to MRG007 to develop, manufacture, and commercialize any product containing MRG007 in the licensed territory; and (ii) a non-exclusive license to the group's controlled intellectual property related to MRG007 to develop, manufacture, and commercialize any products for cancer treatment in the licensed territory. Subject to the terms and conditions of the license agreement, ArriVent is authorized to develop, manufacture, and commercialize MRG007 exclusively in the licensed territory. The company will receive a one-time upfront payment and near-term milestone payments totaling $47 million, as well as up to $1.16 billion in development, registration, and sales milestone payments, and high single-digit to low double-digit tiered royalties on net sales of MRG007 in the licensed territory in the future.