HBM Holdings inks global collaboration with Otsuka for HBM7020

HBM Holdings Limited (HKEX: 2142) announced a global strategic collaboration agreement with Otsuka Pharmaceutical Co., Ltd. for the advancement of HBM7020, a BCMAxCD3 bispecific T-cell engager designed for autoimmune disease treatment. Under the terms of the agreement, Otsuka gains exclusive rights to develop, manufacture, and commercialize HBM7020 worldwide, excluding Greater China. HBM Holdings is eligible to receive a total of US$47 million in upfront and near-term payments. Furthermore, potential milestone payments could reach up to US$623 million upon achieving specified development and commercial milestones, along with tiered royalties on future net sales. HBM7020 recently obtained Investigational New Drug (IND) clearance in China for a Phase I trial targeting cancer. The collaboration aims to establish a foundation for potential future partnerships in the T-cell engager area between the two companies.