
Group 1 - Kingsray Biotechnology (01548.HK) announced a revised licensing agreement with Nanjing Pengbo, granting a global transferable license for anti-PD-1 domain antibodies and related proprietary technologies to Lixin, enabling development, production, and commercialization of licensed products for all global uses [1] - By June 27, 2025, Nanjing Pengbo and its subsidiary, Zhenjiang Pengbo Biotechnology Co., Ltd., are expected to receive approximately $213.8 million (after tax deductions) under the revised licensing agreement, which includes an upfront payment, milestone payments, and sublicensing revenue related to the licensed anti-PD-1 domain antibodies [1] - The licensed anti-PD-1 domain antibodies are being utilized in the development of Lixin's investigational PD1/VEGF bispecific antibody LM-299, which has received approval for new drug clinical research [1] Group 2 - The licensed anti-PD-1 domain antibodies demonstrate high efficiency and specificity in binding to human and cynomolgus monkey PD1, effectively blocking PD1/PD-L1 integration and inhibiting tumor growth in rodent efficacy models, showing comparable efficacy to Merck's Keytruda [2] - The anti-PD-1 domain antibodies also exhibit ideal CMC (Chemistry, Manufacturing, and Controls) drug-like properties [2]