I-Mab Biopharma buys rights to HyLeukin

In a second significant in-licensing deal this month, Shanghai, China-based I-Mab Biopharma receives exclusive development and commercialization rights to immuno-oncology drug HyLeukin in greater China from South Korean firm Genexine (Kosdaq: 095700).

Genexine, a biotherapeutics company focused on immuno-oncology and orphan disease, will establish a joint development committee with I-Mab to pursue global commercialization and new drug development of multi-target antibody-based candidates in immuno-oncology areas.

Under the terms of the agreement, I-Mab will provide an undisclosed upfront payment in exchange for an exclusive license for development and commercialization rights of HyLeukin in greater China in the field of oncology. In addition, there is potential for various milestone payments and tiered, low single digit royalty payments to Genexine, contingent on regulatory approvals, and accumulated net sales.