By Fineline Cube 
HBM Holdings Limited (HKG: 2142) announced that its wholly‑owned subsidiary Nona Biosciences (Suzhou) Co., Ltd. has signed an evaluation‑and‑license agreement with Umoja Biopharma, Inc.. The deal expands the strategic partnership first forged in September 2024 and aims to generate a pipeline of in‑vivo CAR‑T cell therapeutics by merging Nona’s HCAb Harbour‑Mice and NonaCarFx discovery platforms with Umoja’s VivoVec gene‑delivery system.
Deal Structure
| Party | Role | Financial Terms |
|---|---|---|
| Nona Biosciences | Licensor of HCAb Harbour‑Mice & NonaCarFx platforms | Up‑front cash payment, optional‑exercise fees, and milestone payments linked to each discovery & development program |
| Umoja Biopharma | Licensee & sole developer/commercializer | Assumes all downstream R&D, IND filing, clinical trials, and commercialization costs |
| HBM Holdings | Indirect benefactor (parent) | Receives Nona’s share of payments; no direct obligations under the agreement |
Technology Synergy
- HCAb Harbour‑Mice – Engineered mouse strains that produce fully human heavy‑chain‑only antibodies (HCAbs) with high affinity and developability.
- NonaCarFx Platform – Rapid pipeline for converting HCAbs into CAR constructs tailored for in‑vivo expression.
- VivoVec (Umoja) – Non‑viral, lipid‑nanoparticle‑based delivery system that administers CAR‑encoding mRNA directly to a patient’s T cells, bypassing ex‑vivo cell manufacturing.
Combined, the platforms enable “plug‑and‑play” generation of CAR‑T therapies that can be administered as a single injection, potentially lowering cost and expanding access for both oncology and autoimmune indications.
Strategic Rationale
- Accelerated Pipeline – Leveraging both companies’ pre‑clinical assets could shorten the time‑to‑clinic for new CAR‑T candidates.
- Market Differentiation – In‑vivo CAR‑T delivery addresses the scalability and logistical challenges that have limited broader adoption of traditional ex‑vivo CAR‑T products.
- Revenue Upside for HBM – The upfront and milestone structure provides immediate cash inflow and long‑term upside without requiring HBM to fund downstream development.
Outlook & Next Steps
- Discovery Phase – Both parties will evaluate up to four initial antigen targets (two oncology, two autoimmune) within the next 12 months.
- Milestone Timeline – First IND‑enabling studies are slated for Q2 2026, with potential US$30 million cumulative milestones if two programs advance to clinical trials.
- Regulatory Path – Umoja plans to pursue Fast Track designations in the U.S. and Priority Review in China for the most promising candidates.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding the collaboration, development timelines, and regulatory expectations. Actual results may differ due to clinical outcomes, regulatory decisions, and market conditions.-Fineline Info & Tech