By Fineline Cube 
Nona Biosciences, a wholly‑owned subsidiary of HBM Holdings Ltd (HKG: 2142), announced a multi‑target antibody discovery collaboration with Link Cell Therapies, a California‑based chimeric antigen receptor (CAR) T therapy developer. The partnership will leverage Nona Bio’s proprietary HCAb Harbour Mice platform and NonaCarFx screening platform to develop novel CAR‑T cell therapy candidates for solid tumors and hematological malignancies.
Collaboration Overview
| Item | Detail |
|---|---|
| Licensor | Nona Biosciences (HBM Holdings subsidiary) |
| Licensee | Link Cell Therapies (US‑based CAR‑T developer) |
| Technology Platforms | HCAb Harbour Mice, NonaCarFx |
| Focus Area | Multi‑target CAR‑T cell therapy discovery |
| Applications | Solid tumors and hematological malignancies |
| Financial Terms | Not disclosed |
Technology Profile: HCAb Harbour Mice & NonaCarFx
HCAb Harbour Mice Platform:
- Generates fully human heavy‑chain‑only antibodies (HCAbs) with significantly reduced immunogenicity
- Provides greater flexibility for CAR functional design vs. conventional antibodies
NonaCarFx Platform:
- CAR‑function‑based HCAb library screening system
- Accelerates discovery of differentiated CAR‑T candidates
- Integrated workflow from antibody generation to CAR‑T validation
Combined Advantage: The platforms enable rapid identification of novel CAR‑T binders with optimized specificity and reduced off‑target toxicity.
Strategic Rationale
For Nona Biosciences:
- Technology Monetization: Validates HCAb platform in cell therapy space, beyond traditional antibody applications
- Global Reach: Partnership with US firm strengthens international collaboration track record
- Pipeline Expansion: Retains rights to platform improvements and potential downstream economics
For Link Cell Therapies:
- Innovation Access: Gains exclusive access to best‑in‑class HCAb technology for CAR‑T discovery
- Competitive Edge: Reduced immunogenicity and enhanced design flexibility vs. scFv‑based CAR‑Ts
- Speed to Clinic: 12‑18 month faster discovery timeline vs. traditional methods
Market Opportunity: CAR‑T for Solid Tumors
Global CAR‑T Market:
- Market Size: $4.5 billion (2025), projected $15 billion by 2030
- Hematology Dominance: 90% of approved CAR‑Ts target blood cancers
- Solid Tumor Gap: <5% of pipeline in solid tumors due to targeting challenges and toxicity
Nona‑Link Pipeline Potential:
- Addressable Market: ¥80‑120 billion (US$11‑17 billion) for solid tumor CAR‑Ts in China/US
- First‑Mover Advantage: First HCAb‑derived CAR‑T platform with multi‑target capability
Competitive Landscape
| Company | Platform | Focus | Stage | Differentiation |
|---|---|---|---|---|
| Nona Bio + Link Cell | HCAb Harbour Mice + NonaCarFx | Multi‑target CAR‑T | Discovery | Reduced immunogenicity, flexible design |
| Allogene | AlloCAR‑T™ | Off‑the‑shelf CAR‑T | Phase II | Allogeneic, not autologous |
| Caribou | CRISPR‑edited CAR‑T | Solid tumors | Phase I | Gene‑edited, not HCAb‑based |
| Arcellx | DAR‑T™ | Hematology | Phase II | Novel binder scaffold |
Strategic Moat: HCAb platform offers 10‑20 year IP protection through patented transgenic mice and screening methodologies.
Financial Implications
Deal Value: While terms undisclosed, comparable AI‑enabled discovery partnerships command:
- Platform Access Fee: USD 5‑15 million
- Milestone Payments: Up to USD 200‑400 million (IND, Phase I, II, III, approval)
- Royalties: Low‑mid single‑digit on net sales
Pipeline Value: Each validated CAR‑T candidate could unlock $1‑3 billion in therapeutic value across solid tumor indications.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding the collaboration’s discovery timeline, clinical development, and market potential. Actual results may differ materially due to clinical validation risks, competitive dynamics, and regulatory acceptance of novel CAR‑T platforms.-Fineline Info & Tech