Youtz Youtz Life Sciences (02496.HK) announced that it granted sino biopharm (01177.HK) subsidiary Zhen Dai Tianqing exclusive, sublicensable license to develop, register, manufacture, and commercialize any product containing M701 and its stabilizer in the mainland and in the field of human disease prevention and treatment.
Based on the progress of research and development, Zhen Dai Tianqing will make the company a maximum combined initial payment and additional development milestone payment of up to 0.315 billion yuan (the same below) for the licensed products. Depending on the level of annual net sales of the licensed products, Zhen Dai Tianqing shall make various specified sales milestone payments. The maximum total sales milestone payment that Zhen Dai Tianqing shall pay to the company is 0.7 billion yuan.
The bispecific antibody M701 is a new type of biological drug independently developed by Youtz Youtz Life Sciences, intended to be used for the treatment of malignant pleural effusion and malignant ascites caused by tumors. It is currently in Phase III clinical trials, and it is the first domestically developed CD3/EpCAM bispecific antibody to enter the clinical trial stage.
