Core Viewpoint - The termination of the licensing and collaboration agreement between Yiming Anke and Instil Bio regarding IMM2510/AXN-2510 and IMM27M/AXN-27M allows Yiming Anke to regain all rights for global development and commercialization outside Greater China, while Instil Bio retains limited rights to complete its clinical development activities [1][3]. Group 1: Business Development Strategy - Yiming Anke plans to restart global business development efforts, focusing on two main strategies: continuing discussions with multinational pharmaceutical companies (MNCs) that have shown interest in the assets and updating them on the latest clinical data, and seeking medium-sized companies with urgent needs in related fields for potential joint development or collaboration [1][7]. - The company will prioritize the compatibility of potential partners' existing product pipelines with its two assets during the selection process, considering factors such as opportunities for joint development and collaborative advancement [2]. Group 2: Clinical Development and Market Context - IMM2510/AXN-2510 is a novel PD-L1xVEGF bispecific antibody, currently ranked third in domestic development progress, while IMM27M/AXN-27M is a next-generation CTLA-4 antibody designed to enhance ADCC activity. Yiming Anke believes that the combination of these two assets will create a "diamond combination" due to the clear pathways for commercialization and established safety profiles of PD-1 and CTLA-4 related drugs [4][8]. - The clinical progress of IMM2510/AXN-2510 and IMM27M/AXN-27M is crucial for their future success, with a focus on achieving rapid market entry for IMM2510 as a monotherapy and expanding the long-term value and indications for IMM27M [8][9]. Group 3: Financial and Operational Challenges - Instil Bio has faced significant financial challenges, with a reported cash balance of $580.1 million as of September 2025, which limits its ability to advance clinical trials for the licensed products. The company has struggled with fundraising, raising only $66 million net from a public offering [6]. - The slow progress in clinical trials for IMM2510/AXN-2510 and IMM27M/AXN-27M has been attributed to Instil Bio's financial constraints, which have hindered its ability to meet development milestones and continue its business expansion efforts [5][6].
宜明昂科“悔婚”是因为选错了下家吗？