HBM Holdings Ltd. has announced a strategic collaboration with Otsuka Pharmaceutical Co., Ltd. to advance HBM7020, a BCMAxCD3 bispecific T-cell engager for the treatment of autoimmune diseases. Under this agreement, Otsuka will have an exclusive license to develop, manufacture, and commercialize HBM7020 globally, with the exception of Greater China. The partnership allows HBM Holdings to receive up to $47 million in upfront and near-term payments, with potential milestone payments totaling up to $623 million, contingent on achieving specific development and commercial benchmarks. This collaboration lays the groundwork for future partnerships between the two companies in the T-cell engager field.
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