Core Viewpoint - The company has announced a global exclusive licensing agreement with Dianthus Therapeutics, Inc. to advance the clinical asset LBL-047, a novel anti-BDCA2-TACI bispecific fusion protein, which has received IND approval in the U.S. and acceptance in mainland China [1] Group 1: Licensing Agreement Details - Under the global exclusive licensing agreement, Dianthus will obtain exclusive rights to develop, manufacture, and commercialize LBL-047 outside of Greater China [1] - The company will receive an upfront payment of up to $38 million, along with potential milestone payments and up to $1 billion in potential clinical development, regulatory, and commercialization milestone payments [1] - The company will also be entitled to tiered royalties on net sales outside of Greater China, with rates ranging from single digits to low double digits [1] Group 2: Strategic Implications - The collaboration with Dianthus, recognized for its leadership and expertise in developing transformative therapies for severe autoimmune diseases, is expected to enhance the company's commitment to advancing innovative drug candidates into clinical stages [1] - The signing of the global exclusive licensing agreement aligns with the overall best interests of the company and its shareholders [1]

Core Viewpoint - The company has entered into a global exclusive licensing agreement with Dianthus Therapeutics to advance the development of a novel dual-specificity fusion protein, LBL-047, aimed at treating severe autoimmune diseases [1][2] Group 1: Licensing Agreement Details - The agreement grants Dianthus exclusive rights to research, develop, and commercialize LBL-047 outside of Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan [1] - The company will receive an upfront payment of up to $38 million, along with potential milestone payments totaling up to $1 billion related to clinical development, regulatory, and commercialization achievements [1] - The company will also earn tiered royalties on net sales outside of Greater China, with rates ranging from single digits to low double digits [1] Group 2: Strategic Importance - The collaboration with Dianthus, recognized for its leadership and expertise in developing transformative therapies for severe autoimmune diseases, is expected to enhance the company's commitment to advancing innovative drug candidates into clinical stages [2] - The signing of the global exclusive licensing agreement aligns with the overall best interests of the company and its shareholders [2]