Harbour BioMed-B Announces License and Option Agreement with AstraZeneca for a Preclinical Monoclonal Antibody Targeting Oncology

　　Harbour BioMed-B(02142) announced that its wholly-owned subsidiary, Harbour BioMed (Suzhou) Co., Ltd., has entered into a licensing and option agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) for the preclinical monoclonal antibody to be used in creating tumor-targeted therapies.

According to the agreement, Harbour BioMed (Suzhou) Co., Ltd. will: receive an upfront payment of US$19 million upon completion of the transaction; receive a near-term milestone payment of US$10 million; receive up to US$575 million in milestone payments upon achieving specific development, regulatory, and commercial milestones; and receive tiered royalties based on net sales.

Moreover, if AstraZeneca exercises such options, Harbour BioMed (Suzhou) Co., Ltd. is eligible to receive payments under the option program.

Editor: Lu Yujun