Xiamen Amoytop Biotech Co., Ltd (SHA: 688278), a biopharmaceutical company based in China, has exercised its option rights for KN069, a drug candidate for non-alcoholic steatohepatitis (NASH), under a licensing agreement with fellow Chinese firm Alphamab Oncology (HKG: 9966). The original deal, signed in December 2023, granted Amoytop the choice between two drug candidates, KN056 or KN069, for development in mainland China. Alphamab was to receive an initial payment of RMB 30 million (USD 4.1 million), with the potential for up to RMB 460 million (USD 64 million) in milestone payments and royalties on future annual net sales. The exercise of the option for KN069 now requires an additional payment of RMB 10 million (USD 1.4 million).
Following the option exercise, Amoytop will take on the development, regulatory submission, manufacturing, and commercialization of KN069 in China for the prevention and/or treatment of NASH. KN069, developed by Alphamab, is a bifunctional protein that is a humanized single domain antibody Fc fusion of a GLP-1 variant and GIPR, targeting two key pathways implicated in NASH.- Flcube.com
