Lepu Biopharma-B (02157.HK) Receives $45 Million Milestone Payment from AstraZeneca for CMG901 Phase III Trial Initiation

LEPU BIOPHARMA-B(02157) announced that in February 2023, KYM Biosciences Inc. and AstraZeneca entered into a global exclusive license agreement for the development and commercialization of CMG901.Sonesitatug Vedotin, also known as AZD0901,The candidate drug co-developed by the company and Kang Nuoya through KYM Biosciences. As of the date of this announcement, AstraZeneca announced the initiation of a multicenter, randomized, controlled Phase III clinical trial (CLARITY-Gastric 02) investigating sonesitatug vedotin (AZD0901) in combination with capecitabine, with or without rilvegostomig, as a first-line treatment for Claudin 18.2-positive, HER2-negative advanced/metastatic gastric cancer, gastroesophageal junction cancer, or esophageal adenocarcinoma, and has completed the first patient dosing.

Subject to the terms and conditions of the license agreement, the completion of the first subject dosing in the aforementioned clinical trial has triggered the relevant milestone payment, with a total amount of 45 million US dollars. AstraZeneca has paid this milestone payment.

KYM is a joint venture established by the company and Kang Nuoya Biomedical Technology (Chengdu) Co., Ltd., held respectively by the company and Kang Nuoya at 30% and 70%. It is mainly engaged in the development and commercialization of CMG901.