Kelun Pharma announced on February 15 that the company held the 21st meeting of the Seventh Board of Directors on December 22, 2022, and the first extraordinary shareholders' meeting of 2023 on January 9, 2023, during which they reviewed and approved the proposal "Regarding the Controlling Subsidiary Kelun-Biotech Signing a Cooperation Agreement with MSD." The company agreed that its controlling subsidiary, Kelun-Biotech, would sign the "EXCLUSIVE LICENSE AND COLLABORATION AGREEMENT" with MSD. Kelun-Biotech will collaborate with MSD on seven ADC projects for which it holds independent intellectual property rights.
As of 23:59 Eastern Time on February 13, 2023 (12:59 Beijing Time on February 14, 2023), the condition for passing the HSR antitrust review stipulated in the "Exclusive License and Cooperation Agreement" signed by MSD and Kelun-Biotech on December 22, 2022, has been met. After the aforementioned antitrust review was passed, all the conditions for the effectiveness of the "Exclusive License and Cooperation Agreement" have been fulfilled, and the agreement has officially taken effect.