Qyuns Therapeutics (HKG:2509) has granted Caldera Therapeutics an exclusive right to develop and commercialize QX030N globally under an out-license agreement, a Thursday Hong Kong bourse filing said.
The biotechnology company will receive a one-time upfront payment of $10 million under the contract, as well as around 24.88% equity interest in Caldera Therapeutics.
The firm may also receive additional milestone payments of up to $545 million and tiered royalties.
QX030N is a long-acting bispecific antibody in the pre-clinical stage for the treatment of immunologic disorders.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.