Chinese biopharmaceutical company: Lee's Pharmaceuticals and MSD reached a global exclusive licensing agreement for LM-299.

Chinese biopharmaceutical company announced that in 2024, its subsidiary Lixin Medicine has reached a global exclusive licensing agreement with Merck for LM-299. According to the terms of the agreement, Merck will have exclusive rights for the global development, production, and commercialization of LM-299. Lixin Medicine will receive an upfront payment of $588 million, as well as up to $2.7 billion in milestone payments.