ProBio Nanjing, a subsidiary of GenScript Biotech Corporation, along with Zhenjiang ProBio Biotech Co., Limited, has successfully received payments totaling approximately US$213.8 million under a license agreement with LaNova Medicines Ltd. These payments include an upfront payment, a milestone payment for the first milestone achieved, and sublicense revenue connected to the sublicense of anti-PD-1 single domain antibody. This antibody has been incorporated into LM-299, a PD-1/VEGF bispecific antibody developed by LaNova, which has obtained investigational new drug clearance.
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