"Harbour BioMed, a global biopharmaceutical company committed to the discovery, development and commercialization of novel antibody therapeutics in immunology and oncology, announced a global strategic collaboration with AstraZeneca to discover and develop next-generation multi-specific antibodies for immunology, oncology and beyond. The strategic collaboration includes an option to license multiple programs utilizing Harbour BioMed’s proprietary Harbour Mice fully human antibody technology platform in multiple therapeutic areas and a $105 million equity investment by AstraZeneca in Harbour BioMed.
Under the terms of the agreements, AstraZeneca will obtain the option to license two preclinical immunology programmes and will nominate further targets for Harbour BioMed to discover next generation multi-specific antibodies. AstraZeneca will have the option to license these programmes for advancement into clinical development.
The initial phase of the strategic collaboration will focus on ongoing research programmes, with the potential for additional programmes. In return, Harbour BioMed will receive an upfront payment, near-term milestone payments, and option exercise fees for additional programs, totalling $175 million, as well as up to $4.4 billion in additional development and commercial milestone payments, along with tiered royalties on future net sales. Additionally, the parties have the option to include additional programs into the collaboration over the next five years, with the option to extend the terms of the agreement for an additional five years upon mutual agreement.
Furthermore, AstraZeneca will acquire 9.15% newly issued shares of Harbour BioMed.
To support the collaboration programs under this agreement and other joint initiatives between the two parties, Harbour BioMed will establish an innovation centre in Beijing, China to be co-located with AstraZeneca.
Jingsong Wang, MD, PhD, founder, chairman, and CEO of Harbour BioMed, commented: “This strategic collaboration with AstraZeneca marks a significant step in advancing next-generation antibody therapeutics, reinforcing Harbour BioMed’s position as a leader in multi-specific biologics innovation. By leveraging our cutting-edge discovery capabilities and AstraZeneca’s expertise in drug development, we aim to accelerate the creation of transformative therapies for patients with high unmet medical needs."