Core Viewpoint - The company has entered into a licensing and share purchase agreement with Excalipoint, granting exclusive global rights to develop and commercialize two preclinical assets related to its proprietary T-cell connector TOPAbody platform [1][2]. Group 1: Licensing Agreement Details - Excalipoint will pay a total of $10 million as an upfront cash payment, along with potential milestone payments up to $847.5 million based on research and commercialization achievements [2]. - The agreement includes a royalty structure based on a low single-digit to mid-single-digit percentage of sales [2]. - The company will have the right to appoint one director to the board of Excalipoint [2]. Group 2: Financing and Strategic Implications - Excalipoint will conduct a Series A financing round, raising a total of $41 million from various investors, including Sequoia China and Yuan Sheng Venture Capital [2]. - The board believes that this licensing transaction and the successful Series A financing will enhance the commercial value of the company's existing product pipeline and technology [3]. - This move aligns with the company's strategy to focus on the development of next-generation ADC drugs and immune-oncology bispecific/trispecific antibodies, accelerating the commercialization of late-stage products [3].