Y-Biologics, IMBiologics and HK inno. N said Friday that they have finalized the technology transfer agreement for their jointly developed  automimmune disease anti-body drug candidates (ADCs).

The agreement, named the OXTIMA project, involves licensing the ADCs IMB-101 and IMB-102 to Hangzhou Zhongmei Huadong Pharmaceutical, a Chinese firm with pipelines that include ADCs, immune disease antibodies, and biosimilars.

IMB-101 is a bispecific antibody targeting both OX40L and tumor necrosis factor-alpha (TNF-α), while IMB-102 is a single antibody targeting OX40L. 

This agreement follows a similar arrangement made with Navigator Medicines in June, which also involved the transfer of both IMB-101 and IMB-102.

HK Inno.N described this new agreement as its "second major achievement" within two months, highlighting that it secured the deal with a Chinese company shortly after its previous agreement with Navigator Medicines.

The technology transfer agreement is valued at $315.5 million, including an upfront payment of $8 million. Y-Biologics will receive revenue sharing based on its equity share. The agreement covers Asia, excluding South Korea, North Korea, and Japan.

An IMBiologics official said that the company “might consider licensing the project in South Korea in the future” but has opted not to specifically license it to North Korea due to “potential geopolitical issues.”

An official from HK inno.N said the company will receive a revenue share in the “low double digits” from the total contract value and will also earn royalties from sales post-launch. 

Both HK inno.N and IMBiologics declined to disclose the exact percentage of the contract value and royalties due to confidentiality agreements.

This deal follows a global technology transfer agreement signed with Navigator Medicines last June, which covered all regions except Asia, but included Japan.

IMBiologics acknowledged that, although the company could have pursued additional deals at the time, it chose to focus on the U.S. and Europe. “We believed there might be opportunities to negotiate separate deals for Asia,” said an IMBiologics official. 

The total value of the agreements, including the latest deal and the previous global contract, is approximately $1.26 billion.

A Y-Biologics official expressed respect for the continued achievements of the joint research and development partners and stated that the company will "strive to become a global leader in antibody drug development."