Biocytogen Pharmaceuticals (Beijing) has announced that its wholly owned subsidiary, Eucure (Beijing) Biopharma has reached an exclusive licensing agreement with Chipscreen NewWay Biosciences, a holding subsidiary of Shenzhen Chipscreen Biosciences for the clinical development and commercialisation of bispecific antibody YH008 in Greater China (including Mainland China, Hong Kong, Macau and Taiwan).

Eucure Biopharma retains YH008’s global rights to develop and commercialise YH008 outside Greater China. Under the agreement, Chipscreen NewWay will pay Eucure Biopharma an upfront payment of 40 million RMB (¥), a potential development milestone payment of up to 360 million RMB, a potential sales milestone payment of up to 196 million RMB, as well as tiered royalties on net sales.

YH008 is Biocytogen’s independently developed proprietary bispecific antibody for tumour immunotherapy. The IND application for a phase I study of YH008 was cleared by the US FDA and accepted by the Chinese NMPA.

“Biocytogen’s YH008 has unique mechanisms and outstanding preclinical results. This licensing agreement will expand Chipscreen NewWay’s pipeline in the field of antibody drugs and immuno-oncology", said Dr Xianping Lu, CEO and President of Chipscreen Biosciences.