GENSCRIPT BIO(HK:01548) Ge Long Hui·2025-10-14 09:30Core Viewpoint - Kingsray Biotechnology (01548.HK) announced a new payment of approximately RMB 479.7 million (about USD 67.5 million after tax deductions) related to a revised licensing agreement for an anti-PD-1 single-domain antibody, which is linked to the development of the dual-specific antibody LM-299 that has received clinical research approval [1] Group 1 - The payment represents the second installment of licensing revenue associated with the anti-PD-1 single-domain antibody [1] - Cumulatively, Kingsray has received approximately RMB 2 billion (about USD 283.6 million after tax deductions) under the revised licensing agreement as of October 14, 2025 [1] - The incoming funds will enhance Kingsray's cash reserves and support new molecular discovery and development [1] Group 2 - The licensed anti-PD-1 single-domain antibody demonstrates high efficiency and specificity in binding to human and cynomolgus monkey PD1, effectively blocking PD1/PD-L1 integration [1] - In rodent efficacy models, the antibody has shown tumor growth inhibition comparable to Merck's Keytruda, along with ideal CMC (Chemistry, Manufacturing, and Control) drug-like properties [1]