GenScript’s ProBio Secures RMB 479.7 M License Payment for LM‑299, Boosting SinoBiopharmaceutical’s Portfolio

GenScript Biotech Corporation (HKG: 1548) today announced that its Contract‑Development‑and‑Manufacturing‑Organization (CDMO) platform, ProBio, received a RMB 479.7 million (≈ $67.5 million) license payment under a PD‑1 monoclonal antibody licensing agreement with LaNova Medicines (now a subsidiary of Sino Biopharmaceutical). The payment brings ProBio’s cumulative license receipts to RMB 2 billion (≈ $283.6 million) since the original agreement.

Key Transaction Highlights

Broader Context

• Merck & Co. Collaboration – In November 2024, Merck & Co. (MSD) and LaNova signed a $3.3 billion partnership. MSD will hold exclusive global rights to develop, manufacture, and commercialise LaNova’s LM‑299. LaNova will receive an upfront payment of $588 million and up to $2.7 billion in milestone payments.
• ProBio’s Financial Share – Under the revised agreement, ProBio is entitled to:

1. 40 % of the upfront payment and 25 % of milestone payments from any re‑licensing during the IND‑to‑Phase I window.
2. 25 % of the royalties earned by LaNova from commercial sales of LM‑299.

• Sino Biopharmaceutical Acquisition – In July 2025, Sino Biopharmaceutical acquired 95.09 % of LaNova’s equity for $950.92 million, solidifying its stake in the LM‑299 pipeline.

Strategic Implications

The latest payment underscores the commercial traction of GenScript’s ProBio platform and the robust pipeline of LM‑299. For Sino Biopharmaceutical, the deal enhances its strategic portfolio in oncology and immunology, while providing a significant revenue stream from a high‑profile bispecific antibody that leverages ProBio’s PD‑1 expertise.

Forward‑Looking Statements

This release contains forward‑looking statements that involve risks and uncertainties. Actual results may differ materially.-Fineline Info & Tech