Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”, stock code: 02315.HK) and Shenzhen Chipscreen Biosciences Ltd. (“Chipscreen Biosciences”, stock code: 688321.SH) jointly announced on February 27, 2023 that Eucure (Beijing) Biopharma Co., Ltd. (a wholly-owned subsidiary of Biocytogen, “Eucure Biopharma”) and Chengdu Chipscreen NewWay Biosciences Co., Ltd. (a controlled subsidiary of Chipscreen Biosciences, “Chipscreen NewWay”) had reached an exclusive license agreement for the clinical development and commercialization of YH008, a new bispecific antibody, in the Greater China area (including mainland China, Hong Kong, Macau and Taiwan).
Chipscreen NewWay will pay Eucure Biopharma an upfront payment of RMB 40 million, a potential development milestone payment of up to RMB 360 million, a potential sales milestone payment of up to RMB 196 million, and tiered royalties on net sales.
YH008 is a bispecific antibody for tumor immunotherapy, and its IND application has been approved by the US Food and Drug Administration (FDA) and accepted by the China National Medical Products Administration (NMPA).
Eucure Biopharma is a wholly owned subsidiary of Biocytogen and develops innovative antibody drugs with independent intellectual property rights.
Chipscreen NewWay is an innovative biotechnology company of Chipscreen Biosciences and is committed to developing macromolecules and other novel therapies.
JunHe was engaged by Eucure Biopharma to draft, review, revise and negotiate the licensing and auxiliary agreements, and won the client’s trust and recognition for its professional service.