The license agreement will see China-based Biotheus gain rights in the Republic of China, Hong kKong, Taiwan, and Macau to the antibody from Alligator Bioscience’s Alligator-Gold platform. Biotheus will use this antibody to develop three bispecific molecules.
In addition, the licensing agreement includes an option for Biotheus to expand its license to gain global rights to the antibody.
The antibody works against the tumor necrosis factor receptor (TNFR) family, which is a group of related receptors sharing sequence homology.
Per Norlén, CEO of Alligator, said in a statement that this collaboration with the Chinese biotech firm gives the company an entry into the “ fast advancing life science market in China.”
Biotheus will pay Alligator $1m (€900,000m) upfront in return for the licensing agreement, with $500,000 due at signing and the other $500,000 paid after six months of scientific and technical evaluation.
Alligator is eligible to receive milestones and option fees up to a total of $142m. If Biotheus chooses to exercise its option to gain global rights, it will pay $90m to Alligator, plus royalties on future sales and a share of sub-license revenue.