Zheng Quan Shi Bao Wang·2026-01-12 13:24Core Viewpoint - Rongchang Biopharma has signed an exclusive licensing agreement with AbbVie for its novel dual-specific antibody drug RC148, targeting PD-1/VEGF, which will provide significant financial benefits to the company [1] Group 1: Agreement Details - The agreement grants AbbVie exclusive rights to develop, manufacture, and commercialize RC148 outside of Greater China [1] - Upon regulatory approval, Rongchang Biopharma will receive an upfront payment of $650 million [1] - The company is also eligible for up to $4.95 billion in milestone payments related to development, regulatory, and commercialization achievements [1] Group 2: Financial Implications - In addition to the upfront payment and milestone payments, Rongchang Biopharma will receive tiered royalties on net sales outside of Greater China, which are expected to be in double digits [1]