Harbour BioMed (HBM), a biopharmaceutical company with operations in the Netherlands, the United States, and Suzhou, China, has announced that its U.S. partner, Cullinan Therapeutics Inc., will be returning the rights to the pipeline molecule HBM7008. This move cancels the licensing agreement that was initially focused on the development and commercialization of the drug. Harbour Bio will regain global rights to HBM7008 and is set to explore alternative development strategies and potential commercialization avenues for the molecule.
HBM7008 is a bispecific antibody (BsAb) designed to target both the tumor antigen B7H4 and the T cell co-stimulatory molecule 4-1BB. It is designed to specifically activate T cells upon binding to B7H4, thereby enhancing its anti-tumor efficacy and safety profile. In February 2023, Harbour Bio entered into a licensing agreement valued at USD 625 million with Cullinan, which granted the company exclusive rights to develop and commercialize HBM7008 in the U.S. The cancellation of this agreement is scheduled to become effective on November 3, 2024. Harbour Bio is not obligated to return the initial USD 25 million payment received from Cullinan. The decision by Cullinan to return the rights was reportedly driven by a strategic prioritization of other pipeline candidates following a review of Phase I study data.- Flcube.com
