By Fineline Cube 
China-based ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd (HKG: 1541) announced today that it has received a $10 million milestone payment from its partner, Instil Bio, Inc. (NASDAQ: TIL), for the licensing and collaboration on IMM2510 and IMM27M. This milestone payment was triggered by the U.S. FDA’s approval to initiate a Phase 1 clinical trial for IMM2510/AXN-2510 in the United States, in accordance with the agreement.
Prior Payments and Collaboration Progress
ImmuneOnco had previously received an initial payment of $10 million in August 2024, followed by two additional payments of $5 million each in September 2024 and May 2025. With this latest milestone payment, the total cumulative payments under this partnership now amount to $30 million.
Collaboration Agreement Details
On August 1, 2024, ImmuneOnco entered into a collaboration agreement valued at over $2 billion with Axion Bio, Inc., a wholly-owned subsidiary of Instil Bio, Inc. (formerly SynBioTx). Under the terms of the agreement, Axion Bio, Inc. acquired development and commercialization rights outside Greater China for two of ImmuneOnco’s pipeline products, IMM2510 and IMM27M. ImmuneOnco retained the rights to both products within Greater China and is eligible to receive an upfront payment and recent payments totaling $50 million, along with over $2 billion in subsequent development, regulatory, and commercial milestone payments. Additionally, ImmuneOnco will receive single-digit to low double-digit royalties on sales outside Greater China.-Fineline Info & Tech