Shang Hai Zheng Quan Bao·2026-01-12 18:09Agreement Overview - On January 12, 2026, Rongchang Biopharmaceuticals signed an exclusive licensing agreement with AbbVie for RC148, a novel bispecific antibody targeting PD-1/VEGF [2] - AbbVie will obtain exclusive rights for the development, production, and commercialization of RC148 outside Greater China [2] Financial Terms - Rongchang Biopharmaceuticals will receive an upfront payment of $650 million and is eligible for up to $4.95 billion in milestone payments related to development, regulatory, and commercialization [8] - Additionally, the company will receive tiered royalties based on net sales outside Greater China [8] Impact of the Agreement - This licensing agreement is expected to accelerate the global development and commercialization of RC148, providing innovative treatment options for patients and enhancing the company's brand value and international influence [9] - The agreement does not affect the company's operational independence and does not harm the interests of the company or its shareholders [9] Product Information - RC148 is designed to activate anti-tumor immune responses while inhibiting tumor-driven angiogenesis, potentially enhancing the immune system's anti-tumor activity through dual targeting of PD-1 and VEGF pathways [5]