Sunshine calls on Apollo for work on novel bi-specific
Anglo-American biotech Apollo Therapeutics and China-based Sunshine Lake Pharma have signed an exclusive license agreement to develop APL-18881, a bi-specific fusion protein aimed at treating metabolic diseases.
Under the agreement, Apollo gains rights outside China, while Sunshine Lake retains rights in its domestic market. The deal provides Sunshine Lake with an upfront payment of $12 million, with potential development and commercial milestone payments totaling up to $926 million, plus royalties.
Apollo, a biotech with a dual presence in Cambridge, UK, and Boston, USA, is expanding its diversified clinical pipeline. The firm has already raised a combined $260 million in series C financing by 2024, with funds dedicated to advancing clinical programs and drug discovery efforts.
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