China-based clinical-stage biotech company Duality Biologics announced on Monday that BeiGene Ltd, a US-based multinational oncology company, has exercised its exclusive option for the B7H4 antibody-drug conjugate (ADC) DB1312/BG-C9074, granting BeiGene global rights for development, manufacturing and commercialization.

DualityBio received an option exercise fee and a milestone payment following the advancement of Phase I dose-escalation in 2024.

In July 2023, DualityBio disclosed an agreement allowing BeiGene to secure a global clinical and commercial license for the investigational ADC targeting select solid tumors. The agreement provided DualityBio with an upfront payment and eligibility for up to USD1.3bn in milestone payments contingent on development, regulatory, and commercial progress. Additional tiered royalties are also included in the agreement.