Commercial-stage biopharmaceutical company InnoCare Pharma (HKEX:09969) (SSE:688428) and biotechnology company Keymed Biosciences Inc (HKEX:02162) announced on Monday that they have entered into an exclusive licence agreement with Prolium Bioscience for the development and commercialisation of ICP-B02, a CD20xCD3 bispecific antibody.

Under the terms of the deal Prolium, a Delaware company funded and backed by New York-based investment firm RTW Investments LP, will have the exclusive right to develop and commercialise ICP-B02 globally in non-oncology and in ex-Asia regions for oncology.

InnoCare and KeyMed will receive up to USD520m in milestone payments and royalties on future net sales, as well as a minority equity stake in Prolium.

ICP-B02 is a CD20xCD3 bispecific antibody jointly developed by InnoCare and KeyMed. A Phase I/II clinical trial in China is ongoing to evaluate its safety and efficacy in relapsed/refractory Non-Hodgkin lymphoma.