Qyuns Therapeutics Co. Ltd. announced that it has entered into a global exclusive collaboration and license agreement with F. Hoffmann-La Roche Ltd (Roche) for its investigational product QX031N. Under the terms of the agreement, Qyuns Therapeutics will grant Roche the exclusive global rights to develop, manufacture, and commercialize QX031N. The company will receive a one-time, non-refundable upfront payment of US$75 million and is eligible to receive up to US$995 million in milestone payments related to development, regulatory approval, and commercialization of the product, as well as tiered royalties on potential future sales. QX031N is a long-acting bispecific antibody intended for the treatment of respiratory diseases such as COPD and asthma. The agreement is subject to customary closing conditions, including regulatory approvals.