By Fineline Cube 
China-based Sino Biopharmaceutical Ltd (HKG: 1177) has announced that the out-licensing collaboration between its subsidiary LaNova Medicines Limited and Merck, Sharp & Dohme Inc. (MSD; NYSE: MRK) regarding LM-299/MK-2010 is progressing smoothly. The Group is set to receive a technology transfer milestone payment of US$300 million in the near term.
LM-299/MK-2010 Partnership Details
LM-299/MK-2010 is a PD-1/VEGF Bispecific Antibody. In 2024, LaNova Medicines entered into a global exclusive licensing agreement with MSD for LM-299. Under the terms of the agreement, MSD secured exclusive global rights for the development, manufacturing, and commercialization of LM-299. LaNova Medicines received an upfront payment of USD588 million and is eligible for up to USD2.7 billion in milestone payments.
Sino Biopharmaceutical’s Acquisition of LaNova
Sino Biopharmaceutical acquired LaNova in July 2025 and took over its pipeline. This acquisition further strengthens Sino Biopharmaceutical’s position in the biopharmaceutical sector and expands its global reach through the collaboration with MSD.-Fineline Info & Tech