VelaVigo Secures $440M Global Licensing Deal for First-in-Class Bispecific Antibody VBS-102 Targeting Thyroid Eye Disease

On April 18, VelaVigo, an innovative biotechnology company focused on the research and development of multispecific antibodies and antibody-drug conjugates (ADCs), announced that it had entered into an agreement with U.S.-based Ollin Biosciences, Inc. regardingVBS-102, a First-in-Class (FIC) Bispecific Antibody Drug Developed IndependentlyExclusive Global Licensing Agreement Reached. Under the agreement, Ollin Biosciences will obtain the global rights to develop, manufacture, and commercialize the drug outside of Greater China, while OrangeSail Pharma retains the rights for Greater China.

Pursuant to the terms of the agreement, thisThe total transaction amount can reach up to $440 million (approximately RMB 3.2 billion),Including upfront payment, development, regulatory, and commercialization milestone payments. In addition, Ollin Biosciences will receive tiered royalties on sales in the licensed territory.

This collaboration marks the second international licensing agreement secured by Ollin Biosciences within just six months, fully validating the global competitiveness of its innovative R&D platform. Currently, the companyThe core pipeline of our independently developed first-in-class (FIC)/best-in-class (BIC) bispecific antibody-drug conjugate (ADC) is poised to enter clinical trials in the United States.Five additional FIC/BIC innovative molecules are set to debut at global industry conferences.

In November 2024, OrangeSail Pharma announced a global strategic collaboration with Avenzo Therapeutics, granting exclusive rights to develop, manufacture, and commercialize a Nectin4/TROP2 bispecific antibody-drug conjugate worldwide (excluding the Greater China region).The transaction amount reached as high as $800 million.。

Dr. Li Jing, Founder and CEO of Ollin Biosciencesstated, “We are delighted to collaborate with the Ollin team. This partnership marks a significant milestone in our company’s internationalization strategy. The success of VBS-102 not only validates Orange Sail’s ability to continuously initiate innovative projects, but also reaffirms its robust capability in innovative drug development—transforming novel concepts into innovative drug molecules with clinical development potential. Currently, the company has established a rich pipeline comprising multiple first-in-class (FIC) and best-in-class (BIC) molecules, with the lead project poised to file for regulatory approval in both China and the United States.”

Dr. Tong Zhang, Co-founder and CBO/CFO of Ollin Biosciencesstated, “This collaboration once again validates the sustainability of our ‘BD+VC’ business model. Following our Pre-A financing round, this transaction further demonstrates our ability to continuously create value, as well as our execution capabilities in fundraising and strategic partnerships. We look forward to collaborating with more partners to accelerate the global development of innovative drugs.”

VelaVigo is an innovative biotechnology company focused on the research and development of multispecific antibodies and antibody-drug conjugates (ADCs). The company’s R&D center is located in Shanghai, with a clinical operations center established in Boston, USA. VelaVigo boasts a highly efficient drug discovery platform, along with exceptional capabilities in translational medicine, chemistry, manufacturing and controls (CMC), and early-stage clinical development. The company has built an innovative pipeline comprising multiple first-in-class (FIC) and best-in-class (BIC) programs, with its core product expected to enter clinical trials in both China and the United States in 2025.

Since its establishment in 2021, Ollin Biosciences has secured a cumulative total of $100 million in financing, including a $50 million angel round and a $50 million Pre-A round. By leveraging a dual-drive model of “independent R&D plus global collaboration,” the company continues to advance the development of innovative drugs, providing novel therapeutic solutions for patients worldwide. Currently, Ollin Biosciences is accelerating the clinical development of its core products and engaging in deep cooperation with international partners to maximize the clinical value and commercial potential of its innovative therapies.