Ascletis Pharma Inc. and Suzhou Alphamab Co., Ltd. (Alphamab) jointly announce that Ascletis' subsidiary and Alphamab have entered into a strategic collaboration and exclusive licensing agreement for anti-PD-L1 KN035 to treat hepatitis B and other viral diseases in Greater China (Ascletis code: ASC22). KN035 is an investigational programmed cell death ligand-1 (PD-L1) monoclonal antibody which has been exposed to more than 500 patients in multiple clinical trials in US, China and Japan.

Under the terms of the agreement, Ascletis has an exclusive license from Alphamab to develop and commercialize ASC22 (KN035) for viral diseases including hepatitis B in Greater China. Ascletis will pay Alphamab a cash upfront payment and Alphamab will be eligible to receive payments in development and commercial milestones as well as tiered royalties from the mid-teens to around twenty percent on future sales of ASC22 (KN035).

Alphamab will manufacture ASC22 (KN035) for clinical trials and commercialization of viral indications in Greater China for Ascletis. For ASC22 (KN035) in viral indications worldwide outside Greater China, Ascletis will be eligible to share certain economics such as upfront, milestone payments and royalties, depending on the development and regulatory status of ASC22 (KN035) inside Greater China.