QYUNS-B(02509) has signed a licensing and cooperation agreement with Windward Bio subsidiary for the development and commercialization of QX027N.

QYUNS-B(02509) announced on December 19, 2025, that the company has entered into a licensing and collaboration agreement with Windward Bio Group AG's subsidiary LE2025 Therapeutics AG(LE2025). The agreement grants LE2025 exclusive rights to develop and commercialize QX027N globally (excluding Mainland China, Taiwan, Hong Kong, and Macau)(Licensed Territories). In return, the company or its designated affiliates (collectively, the "Group") will be entitled to receive payments of up to a total of $700 million, including upfront payments, equity in Windward Bio, development and commercial milestones payments, and tiered royalties based on net sales of QX027N in the Licensed Territories. QX027N is a long-acting anti-TSLPxIL-13 bispecific antibody developed by the company.