FilingReader Intelligence

Sino Biopharmaceutical expects $300m milestone payment from Merck

July 30, 2025 at 11:01 AM UTCBy FilingReader AI

Sino Biopharmaceutical Limited expects to receive a $300m technology transfer milestone payment from Merck & Co for the LM-299 "PD-1/VEGF Bispecific Antibody" project.

Merck confirmed completion of the LM-299 technology transfer in July and anticipates recognizing the payment in Q3 2025. This follows a 2024 global exclusive licensing agreement including a $588m upfront payment and potential milestones up to $2.7bn.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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