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HK inno.N |
[Alpha Biz= Reporter Kim Jisun] HK inno.N, in collaboration with imbiologics and Y-Biologics, has licensed out their jointly developed bispecific antibody drug candidate to the United States for approximately 1.3 trillion KRW (about 1.1 billion USD).
On the 17th, HK inno.N announced that 'IMB-101 (OXTIMA)', an OX40L antibody and TNF-α targeting bispecific antibody drug candidate, developed jointly by the three companies, has been licensed to Navigator Medicine, a U.S.-based pharmaceutical development company.
The total contract value amounts to 940 million USD (approximately 1.3 trillion KRW), including an upfront payment of 20 million USD (approximately 27.6 billion KRW). This technology transfer agreement was led by imbiologics. The contract territory includes global regions (including Japan) but excludes Asia.
Under the terms of the agreement, HK inno.N will receive a certain percentage of the total contract value as revenue, and additional royalties based on post-launch sales.
HK inno.N transferred this project to imbiologics, which was founded by HK inno.N's antibody research team, in August 2020. Imbiologics developed it as their main pipeline (IMB-101). In August last year, imbiologics received approval from the U.S. Food and Drug Administration (FDA) to conduct a Phase 1 clinical trial for IMB-101, achieving this licensing deal before the clinical trial was completed.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
