Chinese Biotech Keyi Pharma Inks $800M BD Deal for First-in-Class Tandem Dual-Target CAR-T Therapy KQ-2003

On July 22, 2025, Novatim Immune Therapeutics (Zhejiang) Co., Ltd. ("Novatim") announced a strategic partnership with U.S.-based biopharmaceutical company ERIGEN LLC. The two parties signed an exclusive overseas licensing agreement for Novatim's self-developed KQ-2003, the world’s first dual-targeting CAR-T cell therapy product with enhanced parallel targeting (targeting BCMA/CD19).

This collaboration covers global rights outside Greater China (excluding India, Turkey, and Russia), with ERIGEN obtaining exclusive development, registration, and commercialization rights for the product in the relevant regions.

In addition, the agreement grants ERIGEN the right to use the key patent structure and sequence of KQ-2003 for the development of "universal CAR-T cell therapy." According to the agreement, Novatim retains full rights to this universal product in Greater China, laying the foundation for subsequent co-development and regional commercialization.

According to the terms of the collaboration, Novatim will receive a near-term development milestone payment of $15 million and is eligible to receive up to $1.32 billion in milestone payments across research, registration, and commercialization stages. In addition, Novatim will also receive sales royalties of up to $800 million based on the net sales of KQ-2003 within the licensed territory.

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