Mengke Pharmaceutical (688373.SH) plans to sign a licensing agreement with ClearIDEbio

Zhitong Finance App News, Mengke Pharmaceutical (688373.SH) announced that the company plans to separately sign an exclusive license agreement for the MRX-23 (an antibody drug conjugate under development by the company) project (“MRX-23 License Agreement”) and a licensor platform technical cooperation agreement (“Platform Cooperation Agreement”) with Swiss ClearIdeBio Therapeutics AG (“ClearIDEbio”). The former involves an exclusive global license for the MRX-23 project; the latter is a multi-project option cooperation based on the company's new camptothecin-loaded “STOPIN” antibody-conjugated drug (ADC) platform. ClearIDEbio can exercise the right to choose an agreed number of targets or target combinations (up to 6, “related projects” for short) as agreed by agreement.

According to the MRX-23 license agreement, the initial payment of 1 million US dollars is paid as agreed after the agreement comes into effect, and the amount is non-refundable after payment; the recent development milestone payment is triggered by the first approval of a clinical trial application for the licensed product. The total nominal limit for MRX-23 R&D, registration and sales milestone payments is US$223 million (including the amount of recent milestone payments mentioned above, not including down payment). According to the platform cooperation agreement, ClearIdeBio obtained exclusive global development and commercialization rights for the corresponding project after exercising the right to select and pay the right to exercise the right to exercise the right to choose a specific target or combination of targets. The nominal limit for R&D, registration and sales milestone payments for each authorized project is US$125 million; only if all 6 relevant projects are exercised and all milestones of each project have been achieved, the total relevant milestone payment limit is US$750 million.