{"id":68069,"date":"2026-06-12T15:00:38","date_gmt":"2026-06-12T07:00:38","guid":{"rendered":"https:\/\/flcube.com\/?p=68069"},"modified":"2026-06-12T15:00:39","modified_gmt":"2026-06-12T07:00:39","slug":"kelun-biotech-receives-usd-89-million-settlement-payment-from-medilink-therapeutics-over-adc-pipeline-out-licensing-dispute","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=68069","title":{"rendered":"Kelun-Biotech Receives USD 89 Million Settlement Payment from Medilink Therapeutics Over ADC Pipeline Out-Licensing Dispute"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd.<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/quote\/6990:HKG\">HKG: 6990<\/a>), a China-based biopharmaceutical company, announced it has received a <strong>payment of RMB 602,509,600.00 (USD 89 million)<\/strong> from <strong>Medilink Therapeutics<\/strong> representing the share of revenue from the out-licensing of <strong>YL201<\/strong>. This brings the total settlement-related payments received by Kelun-Biotech from Medilink in 2026 to <strong>RMB 702,721,325.78 (USD 104 million)<\/strong>.<\/p>\n\n\n\n<h2 id=\"h-settlement-details\" class=\"wp-block-heading\">Settlement Details<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Item<\/th><th>Detail<\/th><\/tr><\/thead><tbody><tr><td><strong>Company<\/strong><\/td><td>Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (HKG: 6990)<\/td><\/tr><tr><td><strong>Counterparty<\/strong><\/td><td>Medilink Therapeutics<\/td><\/tr><tr><td><strong>Latest Payment<\/strong><\/td><td>RMB 602,509,600.00 (USD 89 million)<\/td><\/tr><tr><td><strong>Total 2026 Payments<\/strong><\/td><td>RMB 702,721,325.78 (USD 104 million)<\/td><\/tr><tr><td><strong>Settlement Agreement<\/strong><\/td><td>December 2025<\/td><\/tr><tr><td><strong>Dispute Origin<\/strong><\/td><td>Criminal complaint filed in 2024; civil litigation initiated in 2025<\/td><\/tr><tr><td><strong>Allegations<\/strong><\/td><td>Misappropriation of trade secrets and harm to company interests<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"h-adc-pipeline-assets-covered-under-settlement\" class=\"wp-block-heading\">ADC Pipeline Assets Covered Under Settlement<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Asset<\/th><th>Target<\/th><th>Therapeutic Focus<\/th><\/tr><\/thead><tbody><tr><td><strong>YL201<\/strong><\/td><td>B7H3<\/td><td>Antibody-drug conjugate (ADC)<\/td><\/tr><tr><td><strong>YL202<\/strong><\/td><td>HER3<\/td><td>Antibody-drug conjugate (ADC)<\/td><\/tr><tr><td><strong>YL211<\/strong><\/td><td>cMet<\/td><td>Antibody-drug conjugate (ADC)<\/td><\/tr><tr><td><strong>YL212<\/strong><\/td><td>DLL3<\/td><td>Antibody-drug conjugate (ADC)<\/td><\/tr><tr><td><strong>YL221<\/strong><\/td><td>EGFR<\/td><td>Antibody-drug conjugate (ADC)<\/td><\/tr><tr><td><strong>YL222<\/strong><\/td><td>PD-L1<\/td><td>Antibody-drug conjugate (ADC)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement agreement entitles Kelun-Biotech to receive a <strong>certain percentage of proceeds<\/strong> generated from both <strong>past out-licensing transactions<\/strong> and <strong>future sales<\/strong> of these six ADC pipeline assets.<\/p>\n\n\n\n<h2 id=\"h-legal-dispute-timeline\" class=\"wp-block-heading\">Legal Dispute Timeline<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Date<\/th><th>Action<\/th><\/tr><\/thead><tbody><tr><td><strong>2024<\/strong><\/td><td>Kelun-Biotech filed criminal complaint against Medilink Therapeutics<\/td><\/tr><tr><td><strong>2025<\/strong><\/td><td>Kelun-Biotech initiated civil litigation against Medilink<\/td><\/tr><tr><td><strong>December 2025<\/strong><\/td><td>Parties entered into comprehensive settlement agreement<\/td><\/tr><tr><td><strong>2026 (YTD)<\/strong><\/td><td>Kelun-Biotech received USD 104 million in settlement payments<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"h-strategic-amp-financial-implications\" class=\"wp-block-heading\">Strategic &amp; Financial Implications<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue Recognition:<\/strong> The settlement payments represent significant non-operating income that will positively impact Kelun-Biotech&#8217;s 2026 financial performance<\/li>\n\n\n\n<li><strong>Intellectual Property Protection:<\/strong> Successful resolution validates Kelun-Biotech&#8217;s IP rights over its ADC platform technology and specific asset developments<\/li>\n\n\n\n<li><strong>Pipeline Monetization:<\/strong> Despite the dispute, the underlying ADC assets have demonstrated commercial value through out-licensing transactions<\/li>\n\n\n\n<li><strong>Corporate Governance:<\/strong> Demonstrates management&#8217;s commitment to protecting shareholder interests and defending company assets<\/li>\n<\/ul>\n\n\n\n<h2 id=\"h-market-context-amp-industry-significance\" class=\"wp-block-heading\">Market Context &amp; Industry Significance<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>ADC Market Growth:<\/strong> The global antibody-drug conjugate market is projected to exceed <strong>USD 20 billion by 2030<\/strong>, driven by advances in linker technology and target identification<\/li>\n\n\n\n<li><strong>Chinese Biotech Innovation:<\/strong> Kelun-Biotech&#8217;s multi-target ADC pipeline reflects the growing sophistication of Chinese biopharmaceutical R&amp;D capabilities<\/li>\n\n\n\n<li><strong>IP Enforcement Precedent:<\/strong> The successful settlement may encourage other Chinese biotech companies to more aggressively protect their intellectual property rights internationally<\/li>\n\n\n\n<li><strong>Partnership Risks:<\/strong> Highlights the importance of robust contractual protections in biotech collaborations and out-licensing arrangements<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The resolution of this high-profile dispute strengthens Kelun-Biotech&#8217;s financial position while affirming the commercial value of its ADC platform and pipeline assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Forward-Looking Statements<\/strong><br>This brief contains forward-looking statements regarding settlement proceeds, future payments, and business implications. Actual results may differ due to risks including payment timing, contractual interpretations, and market conditions.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/flcube.com\/wp-content\/uploads\/2026\/06\/2026061200128_c.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of 2026061200128_c.\"><\/object><a id=\"wp-block-file--media-c1bdd74c-aa46-49b9-b5ef-d86aa9c39284\" href=\"https:\/\/flcube.com\/wp-content\/uploads\/2026\/06\/2026061200128_c.pdf\">2026061200128_c<\/a><a href=\"https:\/\/flcube.com\/wp-content\/uploads\/2026\/06\/2026061200128_c.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-c1bdd74c-aa46-49b9-b5ef-d86aa9c39284\">Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (HKG: 6990), a China-based biopharmaceutical company, announced it has received&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7,10],"tags":[35,971,1832],"class_list":["post-68069","post","type-post","status-publish","format-standard","hentry","category-company","category-deals","tag-adc-xdc","tag-hkg-6990","tag-kelun-biotech-biopharmaceutical"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Kelun-Biotech Receives USD 89 Million Settlement Payment from Medilink Therapeutics Over ADC Pipeline Out-Licensing Dispute - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (HKG: 6990), a China-based biopharmaceutical company, announced it has received a payment of RMB 602,509,600.00 (USD 89 million) from Medilink Therapeutics representing the share of revenue from the out-licensing of YL201. This brings the total settlement-related payments received by Kelun-Biotech from Medilink in 2026 to RMB 702,721,325.78 (USD 104 million).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flcube.com\/?p=68069\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kelun-Biotech Receives USD 89 Million Settlement Payment from Medilink Therapeutics Over ADC Pipeline Out-Licensing Dispute\" \/>\n<meta property=\"og:description\" content=\"Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (HKG: 6990), a China-based biopharmaceutical company, announced it has received a payment of RMB 602,509,600.00 (USD 89 million) from Medilink Therapeutics representing the share of revenue from the out-licensing of YL201. 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(HKG: 6990), a China-based biopharmaceutical company, announced it has received a payment of RMB 602,509,600.00 (USD 89 million) from Medilink Therapeutics representing the share of revenue from the out-licensing of YL201. This brings the total settlement-related payments received by Kelun-Biotech from Medilink in 2026 to RMB 702,721,325.78 (USD 104 million).","breadcrumb":{"@id":"https:\/\/flcube.com\/?p=68069#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/flcube.com\/?p=68069"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/flcube.com\/?p=68069#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/flcube.com\/"},{"@type":"ListItem","position":2,"name":"Kelun-Biotech Receives USD 89 Million Settlement Payment from Medilink Therapeutics Over ADC Pipeline Out-Licensing Dispute"}]},{"@type":"WebSite","@id":"https:\/\/flcube.com\/#website","url":"https:\/\/flcube.com\/","name":"Insight, China's Pharmaceutical Industry","description":"Fineline Insights, Pharma Clarity","publisher":{"@id":"https:\/\/flcube.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/flcube.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/flcube.com\/#organization","name":"Fineline Infomation and Technology","alternateName":"Fineline Info & Tech","url":"https:\/\/flcube.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/","url":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","contentUrl":"https:\/\/flcube.com\/wp-content\/uploads\/2024\/11\/Fineline-info-tech-scaled.jpg","width":2560,"height":1894,"caption":"Fineline Infomation and Technology"},"image":{"@id":"https:\/\/flcube.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61566606313834"]},{"@type":"Person","@id":"https:\/\/flcube.com\/#\/schema\/person\/19ad11870d326204db8524d3c3c5e66a","name":"Fineline Cube","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/89f733aaed3d2d91d7d6f45d0e9ab509e3004e8243c6e57620b36380684657f2?s=96&d=mm&r=g","caption":"Fineline Cube"},"sameAs":["https:\/\/flcube.com"],"url":"https:\/\/flcube.com\/?author=1"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/68069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68069"}],"version-history":[{"count":2,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/68069\/revisions"}],"predecessor-version":[{"id":68072,"href":"https:\/\/flcube.com\/index.php?rest_route=\/wp\/v2\/posts\/68069\/revisions\/68072"}],"wp:attachment":[{"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flcube.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}