JunHe Assisted Harbour BioMed to Enter into an Exclusive Agreement with respect to Batoclimab with CSPC

On October 10, 2022, HBM Holdings Limited (02142.HK) jointly announced with CSPC Pharmaceutical Group Co., Ltd. (01093.HK) that their respectively wholly owned subsidiaries, Harbour BioMed (Shanghai) Co., Ltd. (“Harbour BioMed”) and CSPC NBP Pharmaceutical Co., Ltd. (“CSPC NBP”), had entered into an exclusive license agreement. Under this agreement, Harbour BioMed granted to CSPC NBP an exclusive license to develop, produce and commercialize Batoclimab (HBM9161) products in the Greater China region (including mainland China, Hong Kong, Macau and Taiwan).

As consideration for the license, CSPC NBP will pay Harbour BioMed a down payment of RMB 150 million, a potential technical milestone payment of up to RMB 50 million, a potential development and regulatory payment of up to RMB 400 million, and a potential sale milestone payment of up to USD 57.5 million (equating to approximately RMB 411 million). In addition, CSPC NBP will pay Harbour BioMed its share of the net sales of the products.

Batoclimab (HBM9161) is a fully human monoclonal antibody against FcRn. As the most advanced FcRn inhibitor being developed in the Greater China region, Batoclimab (HBM9161) has the potential to become a breakthrough therapy for a series of autoimmune diseases in the Greater China region.

Harbour BioMed is a global clinical-stage biopharmaceutical company committed to the discovery, development and commercialization of novel antibody therapeutics in oncology and immunological disease areas.

CSPC Pharmaceutical Group Co., Ltd. is a national innovative enterprise integrating the research and development, production and sale of innovative drugs, and CSPC NBP, a group member, is a modern pharmaceutical enterprise focusing on the production of innovative drugs.

Engaged by Harbour BioMed, JunHe prepared and reviewed the formal agreement and matching documents involved in this transaction, and participated in negotiations. JunHe was highly recognized by the client for its efficient and prudent delivery of professional legal services.

This project was primarily undertaken by Mr. ZHAO, Hao (Gerry).