Climb Bio Signs Deal With Beijing Mabworks Biotech to Develop Antibody for IgA Nephropathy

MT Newswires Live

Jan 10, 2025

Climb Bio (CLYM) said Thursday it has signed an exclusive licensing deal with Beijing Mabworks Biotech to develop and commercialize anti-APRIL monoclonal antibody CLYM116 outside of Greater China to potentially treat patients with IgA nephropathy and other B-cell-mediated diseases.

Under the agreement, Climb Bio said it will pay $9 million upfront to Mabworks and make milestone payments as well as low- to mid-single-digit royalties on net sales outside of Greater China.

Climb Bio said it is conducting preclinical studies on CLYM116 and expects to share data later in 2025.

Additionally, the company said it had about $212.9 million in cash, cash equivalents and short-term marketable securities as of Dec. 31, which is expected to fund operations through 2027.

Price: 1.87, Change: -0.22, Percent Change: -10.53

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