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.
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.