Mabwell(SH:688062) Mei Ri Jing Ji Xin Wen·2025-06-27 15:06Core Viewpoint - Recently, Maiwei Biotech announced two significant licensing agreements, potentially exceeding a total value of 4.7 billion RMB, which could enhance the company's operational strength and support its long-term development strategy [2][3][5]. Group 1: Licensing Agreements - Maiwei Biotech signed an exclusive licensing agreement with CALICO, a subsidiary of Alphabet, for the IL-11 targeted therapy, which includes the product 9MW3811. The agreement allows CALICO to develop, produce, and commercialize the product outside of China [3][4]. - The agreement with CALICO includes an upfront payment of 25 million USD (approximately 250 million RMB) and potential milestone payments totaling up to 571 million USD (approximately 4.095 billion RMB), along with royalties based on net sales [3][4]. - The second agreement with Qilu Pharmaceutical involves the product 8MW0511, which is an injectable drug for treating febrile neutropenia in cancer patients. This agreement includes an upfront payment of 3.8 billion RMB and potential sales milestone payments, as well as royalties based on net sales [4][6]. Group 2: Company Background and Financials - Founded in 2017, Maiwei Biotech focuses on the research, production, and sales of innovative drugs and biosimilars, primarily in oncology and other therapeutic areas [3][6]. - As of the end of 2024, the company has three products on the market but has not yet achieved profitability, with accumulated losses [3][6]. - In Q1 2025, the company reported revenue of 44.79 million RMB, a year-on-year decline of 33.7%, and a net loss of 292 million RMB, indicating an increase in losses due to high R&D expenditures [7]. - The company is preparing for an IPO on the Hong Kong Stock Exchange to alleviate financial pressures and enhance its international presence [7].