By Fineline Cube 
China-based GenScript Biotech Corporation (HKG: 1548) announced that it has received a payment of USD 213.8 million from LaNova Medicines Ltd. This payment is based on the licensing agreement entered into in November 2024.
Licensing Agreement Details
Under the agreement, LaNova secured rights to an anti-PD-1 single-domain antibody from GenScript. This antibody is currently being used in the development of LaNova’s investigational PD-1/VEGF bispecific antibody LM-299.
Payment Components
The payment received by GenScript includes an upfront payment, a milestone payment achieved upon reaching the first milestone, and sublicensing income related to the licensed anti-PD-1 single-domain antibody.-Fineline Info & Tech