By Fineline Cube ImmuneOnco Biopharmaceuticals (Shanghai) Inc. (HKG: 1541) announced it has terminated its License and Collaboration Agreement with Axion for IMM2510/AXN-2510 and IMM27M/AXN-27M. The termination does not affect the USD 35 million in upfront and milestone payments already received. ImmuneOnco regains all global development and commercial rights outside Greater China for both assets, while Axion retains a limited license to wind down clinical activities.
Deal Termination Summary
| Item | Detail |
|---|---|
| Licensor | ImmuneOnco Biopharmaceuticals (1541.HK) |
| Licensee | Axion (license terminated) |
| Assets | IMM2510 (palverafusp α), IMM27M (tazlestobart) |
| Financial Impact | USD 35 million retained; no clawback |
| Rights Regained | Global development and commercial rights outside Greater China |
| Axion Rights | Limited license for wind‑down of clinical development only |
Asset Profiles
IMM2510 (palverafusp α) – VEGF/PD-L1 Bispecific
| Feature | Description |
|---|---|
| Structure | mAbTrap bispecific targeting VEGF and PD‑L1 |
| Mechanism | Inhibits angiogenesis + sensitizes tumors to immune response |
| Indication | Solid tumors (specific cancers undisclosed) |
| Competitive Edge | Dual blockade of tumor growth and immune evasion |
IMM27M (tazlestobart) – Next‑Gen CTLA‑4 Antibody
| Feature | Description |
|---|---|
| Structure | CTLA‑4 antibody with enhanced ADCC activity |
| Mechanism | Potent T‑cell activation via CTLA‑4 blockade + Fc‑mediated immune cell engagement |
| Indication | Oncology (specific cancers undisclosed) |
| Competitive Edge | Enhanced ADCC vs. first‑gen CTLA‑4 inhibitors (ipilimumab) |
Strategic Implications
Rights Regained: ImmuneOnco now controls global commercialization outside Greater China, enabling ex‑China licensing deals or direct market entry in US/EU.
Pipeline Value: Combined assets target ¥15‑20 billion global oncology market opportunity (VEGF/PD‑L1 bispecifics and CTLA‑4 next‑gen antibodies).
Financial Flexibility: USD 35 million non‑refundable payment provides runway for Phase II trials without near‑term dilution.
Next Steps: ImmuneOnco plans partner discussions for ex‑Greater China rights in H1 2026, targeting USD 200‑300 million upfront plus milestones.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding ImmuneOnco’s licensing strategy, asset development plans, and financial projections for IMM2510 and IMM27M. Actual results may differ materially due to clinical trial outcomes, competitive responses, and regulatory review timelines.-Fineline Info & Tech