Yiming Enko-B (01541) regains global rights to IMM2510 and IMM27M

Zhitong Finance App News, Yiming Angko-B (01541) issued an announcement. According to the license and cooperation agreement, the company agreed to grant Axion an exclusive license to research, develop and commercialize a number of bispecific antibodies targeting programmed cell death ligand 1 (PD-L1) and vascular endothelial growth factor (VEGF) (including the candidate product IMM2510), as well as certain monoclonal antibodies targeting cytotoxic T lymphocyte-related protein 4 (CTLA-4), outside of Greater China.

On the date of this announcement, the Company announced that it has entered into an agreement with Axion to terminate the license and cooperation agreement (termination agreement). All licenses previously granted to Axion (including global development and commercialization rights outside of Greater China) have been re-owned by the Company, but Axion has been granted a limited license to gradually end its clinical development activities. This termination will not affect the $35 million down payment and milestone payment that the Company has already received from Axion in accordance with the license and cooperation agreement.

Yiming Encore is pleased to have regained the global rights of IMM2510 and IMM27M. The company is confident in the therapeutic potential of these drugs and continues to work to accelerate clinical development of these assets.