Harbour BioMed Inks $670M Global Deal with Otsuka for BCMAxCD3 Bispecific T-Cell Engager HBM7020

On June 23, Harbour BioMed announced a global strategic collaboration with Otsuka Pharmaceutical Co., Ltd. (“Otsuka Pharmaceutical”), whereby the two parties will jointly advance the development of a BCMAxCD3 bispecific T-cell engager for the treatment of autoimmune diseases.

Under the terms of the agreement, Otsuka Pharmaceutical will obtain an exclusive license to develop, manufacture, and commercialize HBM7020 (a BCMAxCD3 bispecific T-cell engager) worldwide, excluding Greater China (i.e., mainland China, Hong Kong SAR, Macau SAR, and Taiwan). Harbour BioMed will receive a total of $47 million in upfront and near-term milestone payments.

In addition, Harbour BioMed is entitled to receive up to $623 million in additional payments upon the achievement of specified R&D and commercial milestones, as well as tiered royalties based on future net sales of the products. Building on this strategic collaboration, both parties will explore opportunities for further cooperation in the field of T-cell engagers.

Dr. Wang Jinsong, Founder, Chairman, and CEO of Harbour BioMed, stated, “We are delighted to collaborate with Otsuka Pharmaceutical. As a global leader in healthcare, Otsuka is renowned for addressing unmet medical needs through innovative approaches. This collaboration highlights the strengths of Harbour BioMed’s proprietary Harbour Mice® and HBICE® technology platforms, which enable us to rapidly develop fully human bispecific antibodies with optimized safety and efficacy profiles. Leveraging our unique technological advantages, we are well-positioned to advance the research and development of next-generation biologics, thereby benefiting patients worldwide.”

Makoto Inoue, President and Representative Director of Otsuka Pharmaceutical, stated: “Otsuka Pharmaceutical is expanding its R&D pipeline in the field of autoimmune diseases by leveraging the antibody drug platform of its subsidiary Visterra and the small-molecule drug discovery platform of its subsidiary Jnana. HBM7020 holds promise for demonstrating significant efficacy in various autoimmune diseases where B cells play a key role in pathogenesis. We look forward to making greater contributions in the field of autoimmune diseases to benefit patients.”

HBM7020 is a BCMAxCD3 bispecific antibody developed based on Harbour BioMed’s fully human HBICE® bispecific antibody technology and Harbour Mice® platform. By targeting BCMA and CD3 on the cell surface, this antibody cross-links target cells with T cells, thereby effectively activating T cells to kill the target cells. HBM7020 achieves precise targeting of tumor cells through the design of two anti-BCMA binding sites, while its monovalent optimized CD3 activity effectively reduces the risk of cytokine release syndrome (CRS). Leveraging these innovative mechanisms, HBM7020 demonstrates potent cytotoxic activity and holds broad application prospects in both immunology and oncology. In August 2023, HBM7020 was approved to initiate Phase I clinical trials for cancer treatment in China.