Genscript Biotech (HKG:1548) unit Nanjing Probio Biotech has granted an exclusive, worldwide, and transferable license to LaNova Medicines allowing it to sublicense certain patents related to anti-PD-1 single domain antibodies and providing it with related know-how to manufacture certain molecules, a Friday bourse filing.
LaNova Medicines has confirmed it will make payments to Nanjing Probio Biotech and Zhenjiang Probio Biotech, another unit of the company, under the agreement.
Under the contract, LaNova Medicines will make certain upfront and milestone payments and share a percentage of sublicense revenue with the company.
LaNova Medicines focuses on discovering and developing innovative biologic drugs that transform cancer treatment.
Shares of the company were up over 6% in recent trade.
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