Kelun-Biotech Subsidiary Receives $175 Million Upfront Payment from Merck for Licensing Seven Preclinical ADC Candidates

Intelligent Finance APP, Kelun (002422.SZ) announced that its controlling subsidiary Sichuan Kelun-Biotech Biopharmaceutical Co.,LTD ("Kelun-Biotech") signed an "EXCLUSIVE LICENSE AND COLLABORATION AGREEMENT" with MERCK SHARP & DOHME LLC. ("MSD") on December 22, 2022. Kelun-Biotech granted MSD an exclusive global license or the option for an exclusive license to seven different preclinical ADC candidate projects in its pipeline for research, development, manufacturing, and commercialization globally or outside mainland China, Hong Kong, and Macao. Kelun-Biotech retains the rights to research, develop, manufacture, and commercialize certain projects with granted exclusive licenses and has the right to retain the option for exclusive licenses within mainland China, Hong Kong, and Macao.

Currently, the cooperation between the two parties is proceeding normally according to the established plan. On March 30, 2023, Kelun-Biotech received the first payment of 175 million US dollars from MSD.