Keymed Biosciences' (HKG:2162) unit, Keymed Biosciences (Chengdu), and Timberlyne Therapeutics signed an exclusive out-license agreement for the exclusive right to develop, manufacture, and commercialize CM313 globally, excluding mainland China, Hong Kong, Macau, and Taiwan, according to a Friday filing with the Hong Kong bourse.
The group will receive an upfront payment of $30 million and an equity stake in Timberlyne Therapeutics. It may earn up to $337.5 million in milestone payments based on sales and development goals, plus tiered royalties from Timberlyne's net sales.
CM313 is a specialized antibody that targets CD38, a protein linked to various diseases. It works by triggering the immune system to destroy harmful cells and has shown strong results in treating conditions like Immune Thrombocytopenia, Lupus, advanced Multiple Myeloma, and autoimmune diseases, the filing noted.
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