ANTENGENE-B (06996) has reached an exclusive licensing agreement with K2 Therapeutics, founded by MPM BioImpact, for ATG-106 and granted it the option to an undisclosed bispecific TCE.

ANTENGENE-B (06996) announced that Antengene Biologics Limited (licensor, a wholly-owned subsidiary of the company) has entered into an exclusive and sublicensable license agreement (license agreement) with a newly established company by K2 Therapeutics (K2) (licensee) for ATG-106, a CDH6 x CD3 bispecific T cell engager (TCE) targeting solid tumors. Additionally, K2 and the licensor have also entered into an option agreement (option agreement), under which K2 has been granted an exclusive option to acquire an undisclosed preclinical bispecific TCE candidate. Under the license agreement and (if K2 exercises the option) option agreement, the applicable licensee will have the exclusive rights to research, develop, manufacture, and commercialize the licensed product globally (excluding Mainland China, Hong Kong, Macau, and Taiwan). Under the option agreement, if K2 exercises the option, the licensor will be entitled to receive approximately USD 20 million upfront payment and near-term consideration, which includes the option exercise fee, near-term payment, and upfront payment, as well as a minority equity interest in the new company to be established by K2. The licensor will also be eligible for development, regulatory, and sales milestone payments of up to USD 960.5 million for the undisclosed TCE candidate, as well as tiered royalties based on future net sales. K2 was founded by MPM BioImpact and is a biotechnology company, as well as an expandable hub-and-spoke engine focused on creating global impact with the ability to search and develop without technical or geographical constraints. MPM BioImpact is a leading global biotechnology investment firm with over 30 years of experience in founding and investing in innovative companies.