China Biologic Products (01177): LM-299 granted international licensing cooperation smoothly, 300 million US dollars milestone payment will be received shortly.

The Smart Financial News APP reports that China Biopharmaceutical (01177) has announced that its wholly-owned subsidiary Lixin Medicine Technology (Shanghai) Co., Ltd. (Lixin Medicine) has made smooth progress in the external licensing cooperation with Merck on LM-299/MK-2010 "PD-1/VEGF dual antibody". The group will receive a $300 million milestone payment for technology transfer in the near future.