Lepu Biopharma (HKG:2157) has licensed out two pre-clinical T-cell engager assets to Excalipoint, according to an Aug. 1 Hong Kong bourse filing.
Shares in the biopharmaceutical company rose 4% in Monday's afternoon trade.
The agreement includes a $10 million upfront cash payment, a 10% equity stake in Excalipoint Cayman through Lepu's unit Innocube, and development and commercial milestone payments totaling up to $847.5 million.
Lepu will also receive tiered royalties on future sales.
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