2026.06.27
On June 22, 2026, Deqi Pharmaceutical (Antengene Pharmaceutical, stock code: 6996.HK) announced that it had signed an exclusive license agreement with K2 Therapeutics for ATG-106, granting K2 Therapeutics exclusive global development and commercialization rights outside the Greater China region. Antengene Pharmaceutical also announced that it had signed an agreement granting K2 Therapeutics the option to obtain exclusive global development and commercialization rights outside the Greater China region for an undisclosed preclinical bispecific T-cell engager (TCE) candidate.
Under the License Agreement and subject to certain near-term conditions, Antengene Pharmaceutical is entitled to receive an upfront payment of approximately USD 20 million and near-term consideration, including cash and minority equity in a newly established asset company and its subsidiaries by K2 Therapeutics. Antengene Pharmaceutical is also eligible to receive milestone payments up to USD 960.5 million related to the development, regulatory approval and sales of ATG-106 and tiered royalties on future net sales.
Under the option agreement and upon K2 Therapeutics exercising the option, Antengene Pharmaceutical is entitled to receive an upfront payment of approximately USD 20 million and near-term consideration, including option exercise fees, near-term payments and upfront payments, as well as minority equity in the related asset company. Antengene Pharmaceutical will also be eligible to receive milestone payments related to the development, regulatory approval and sales of the undisclosed TCE project, totaling up to USD 960.5 million, and tiered royalties on future net sales.
ATG-106 is a CDH6 x CD3 bispecific T-cell engager (TCE) in preclinical development for the treatment of solid tumors. Both ATG-106 and the undisclosed project are based on Antengene Pharmaceutical's proprietary AnTenGager® platform. This platform offers a differentiated TCE approach: the CD3 binding arm of the TCE is spatially blocked when not bound to the target antigen, enhancing tolerance while achieving potent activity. This transaction demonstrates the unique strength of Antengene Pharmaceutical's AnTenGager® platform in developing next-generation innovative T-cell engagers with broad applicability, marking the second transaction involving AnTenGager® TCE following its global exclusive license agreement with UCB for ATG-201 announced in March 2026.
Antengene Pharmaceutical is a leading biotechnology company driven by research and development. It develops first-in-class and best-in-class therapies that address significant unmet medical needs and it has now entered the commercialization stage.
K2 Therapeutics was founded by MPM BioImpact. It is a biotechnology company with a scalable 'hub-and-spoke' platform that has drug discovery and development capabilities unrestricted by technological models or geographical boundaries. MPM BioImpact is a leading biotechnology investment institution with over 30 years of experience in creating and investing in innovative companies.
JunHe was entrusted by Antengene Pharmaceutical to review, amend and negotiate the formal agreements for this project. We earned the trust and recognition of the client with our consistently efficient and rigorous work style and our meticulous, dedicated service attitude.
The lead partner for this project was ZHU, Jian (James J. ZHU）. ZHAO, Hao (Gerry) primarily handled the licensing and ZHOU, Feng (Frank) was the main partner for the equity components. HUANG, Zunling (Jennifer) provided strong support in the intellectual property matters.
