- Harbour BioMed has announced a global out-license agreement with AstraZeneca plc (NASDAQ:AZN) for CLDN18.2xCD3 bispecific antibody (HBM7022).
- HBM7022 is a novel bispecific antibody generated from HBM's HCAb Based Immune Cell Engagers (HBICE) Platform.
- HBM7022 is currently in the preclinical stage, which crosslinks tumor cells and T cells by targeting a tumor-associated antigen (Claudin18.2) and CD3 and thus leads to potent T cell activation and tumor elimination.
- According to HBM, the candidate has shown efficacy against Claudin18.2-positive gastric cancer, both in its wild type and mutated forms, and pancreatic cancer. The evidence of efficacy comes from preclinical studies.
- AstraZeneca will be granted an exclusive global license for the research, development, registration, manufacturing, and commercialization of HBM7022 and shall be solely responsible for all costs and activities associated with its further development and commercialization.
- HBM shall receive an upfront payment of $25 million with the potential milestone payments of up to $325 million.
- Price Action: AZN shares are up 1.73% at $70.27 during the market session on the last check Thursday.
