China-based Nanjing Leads Biolabs Co., Ltd and venture capital firm Aditum Bio have announced the establishment of Oblenio Bio, along with an exclusive option and license agreement to develop LBL-051, a first-in-class CD19xBCMAxCD3 tri-specific T-cell engager antibody targeting autoimmune diseases. Aditum Bio will provide funding for Oblenio Bio, and together they will advance LBL-051 into clinical studies.
Exclusive Option and Financial Terms of the Agreement
Under the agreement, Leads Bio will grant Oblenio an exclusive option to develop, manufacture, and commercialize LBL-051 globally. Leads Bio is set to receive up to USD 35 million in upfront and near-term payments, and potentially up to USD 579 million in development, regulatory, and commercialization milestone payments. Additionally, Leads Bio will be entitled to royalties on sales and an equity stake in Oblenio Bio.- Flcube.com
