Zhi Tong Cai Jing·2025-07-30 10:57Core Insights - China Biologic Products Holdings (01177) announced that its wholly-owned subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., is making significant progress in its collaboration with Merck on the LM-299/MK-2010 "PD-1/VEGF dual antibody" licensing agreement [1] - Merck disclosed during its Q2 earnings call that the technology transfer for LM-299 was completed in July, with a $300 million milestone payment expected to be confirmed in Q3 [1] - In 2024, Lixin Pharmaceutical and Merck reached a global exclusive licensing agreement for LM-299, which includes an upfront payment of $588 million and potential milestone payments of up to $2.7 billion [1] Group 1 - The collaboration between Lixin Pharmaceutical and Merck is progressing smoothly, with a significant milestone payment on the horizon [1] - The technology transfer for LM-299 has been completed, indicating a positive trajectory for the project [1] - The global exclusive licensing agreement includes substantial financial commitments from Merck, highlighting the potential value of the LM-299 project [1]