HBM Holdings (HKG:2142) and Sichuan Kelun-Biotech Biopharmaceutical (HKG:6990) signed a license agreement with Windward Bio for their joint anti-thymic stromal lymphopoietin monoclonal antibody (mAb), according to a Friday filing with the Hong Kong exchange.

The drug, coded SKB378/HBM9378, is an antibody that blocks receptors responsible for immunological conditions such as asthma and chronic obstructive pulmonary disease or COPD, the filing said.

Under the agreement, Switzerland-based Windward Bio will gain an exclusive license for the research, development, manufacturing and commercialization of the drug across the globe, except in Greater China and several Southeast and West Asian countries, the filing said.

Both HBM and SKB are set to gain $970 million in upfront and milestone payments and single to double-digit tiered royalties on net sales of the drug, the filing said.

The $45 million in upfront and near-term payments include cash and equity in Windward Bio's parent, the filing said.

Both HBM and SKB will also be eligible for additional payments from Windward should the Swiss company undergo a near-term change of control or a sublicense agreement with a third party, the filing said.