智通财经网·2025-07-30 10:57Core Insights - China Biologic Products Holdings (01177) announced that its wholly-owned subsidiary, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd., has made significant progress in its licensing collaboration with Merck for LM-299/MK-2010, a PD-1/VEGF dual antibody [1] - The company is set to receive a $300 million milestone payment for technology transfer in the near future [1] Group 1 - Merck disclosed during its Q2 earnings call that the technology transfer for LM-299 was completed in July and the $300 million milestone payment is expected to be recognized in Q3 [1] - During the Q&A session of the earnings call, Merck confirmed that the LM-299 project is progressing as planned [1] Group 2 - In 2024, Lixin Pharmaceutical and Merck reached a global exclusive licensing agreement for LM-299 [1] - According to the agreement terms, Merck will receive exclusive rights for global development, production, and commercialization of LM-299, while Lixin Pharmaceutical will receive an upfront payment of $588 million and up to $2.7 billion in milestone payments [1]