LaNova Medicines Limited, a wholly-owned subsidiary of Sino Biopharmaceutical Limited, is advancing smoothly in its out-licensing collaboration with Merck & Co., Inc. for the LM-299/MK-2010 "PD-1/VEGF Bispecific Antibody." The collaboration involves a technology transfer milestone payment of US$300 million, expected to be received shortly. This follows a global exclusive licensing agreement made in 2024, granting Merck & Co., Inc. exclusive rights for the development, manufacturing, and commercialization of LM-299. Under the terms of this agreement, LaNova Medicines is set to receive an upfront payment of US$588 million, along with potential milestone payments up to US$2.7 billion. The project is currently on track as planned, according to Merck & Co., Inc.'s recent disclosures.