GENSCRIPT BIO (01548) announced that its subsidiary has received a new payment of approximately RMB 480 million (equivalent to about $67.5 million, net of withholding taxes) under the restated and amended license agreement with LM Pharma.

This payment represents the second sublicensing revenue related to the licensed anti-PD-1 single domain antibody under the restated and amended license agreement. The anti-PD-1 single domain antibody is being utilized in LM Pharma's development of the investigational PD-1/VEGF bispecific antibody LM-299, which has received approval for clinical trials as a new drug.

As of October 14, 2025, the subsidiary has cumulatively received approximately RMB 2 billion (equivalent to about $284 million, net of withholding taxes) under the restated and amended license agreement.

The receipt of these funds will further strengthen the subsidiary's cash reserves and will be used to support new molecule discovery and development initiatives.