China-based Keymed Biosciences Inc. (HKG: 2162) has entered into a licensing agreement with US firm Timberlyne Therapeutics, Inc., granting the startup biopharma exclusive development, manufacturing, and commercialization rights to its CM313, a CD38-targeted monoclonal antibody (mAb). The agreement covers global rights, excluding mainland China, Hong Kong, Macau, and Taiwan.
Financial Terms of the Agreement
Under the deal terms, Keymed will receive USD 30 million upfront and near-term payment. The company is also eligible to receive up to USD 337.5 million in sales and development milestone payments, alongside royalties on any potential future net sales. Additionally, Keymed will hold 25.79% equity ownership in Timberlyne upon the completion of the latter’s USD 180 million Series A funding.
Development and Supply Responsibilities
Keymed is responsible for providing assistance in the development and promoting the transfer of technology and knowledge. A clinical supply pact will also be signed, under which Keymed will ensure the clinical supply of CM313. Unless otherwise agreed, Timberlyne will be responsible for bearing all development costs related to CM313 within the licensed territories.
Significance of the Partnership
This strategic partnership between Keymed Biosciences and Timberlyne Therapeutics highlights the potential of CM313 in addressing significant unmet medical needs. By leveraging Keymed’s expertise and Timberlyne’s resources, the collaboration aims to accelerate the development and commercialization of this innovative monoclonal antibody, potentially improving patient outcomes in diseases where CD38 is a target.-Fineline Info & Tech
