Core Viewpoint - The termination of the collaboration agreement between Yiming Biotech and Axion Bio allows Yiming to regain global rights to its assets, which the company views positively and believes will accelerate clinical development [1][2][3]. Company Summary - Yiming Biotech has terminated its licensing and collaboration agreement with Axion Bio for the assets IMM2510/AXN-2510 and IMM27M/AXN-27M, while retaining a $35 million upfront and milestone payments received from Axion [1][2]. - The company expressed confidence in the therapeutic potential of the regained assets and plans to pursue further business development (BD) opportunities with interested multinational corporations (MNCs) [3][4]. - Following the announcement, Yiming Biotech's stock experienced volatility, initially rising over 5% before closing with a gain of 2.9% [1]. Industry Summary - The termination of the collaboration is seen as a significant event in the industry, with some voices expressing concern over the implications for domestic innovative drugs being "returned" [2][5]. - The industry is currently discussing the potential of PD-L1/VEGF bispecific antibodies, with comparisons drawn to similar products and their market performance, particularly in light of recent clinical data [4][5]. - In 2025, the total value of innovative drug licensing transactions in China is expected to exceed $130 billion, indicating a booming BD environment, although challenges such as "returns" may arise [5].
超20亿美元交易官宣终止，宜明昂科：对下一步BD充满信心