On August 5, 2024 Genor Biopharma (Stock code: 6998.HK) reported that the company had entered into a licensing agreement and a stock purchase agreement with TRC 2004.Under the License Agreement, Genor Biopharma has agreed, among others, to grant the Licensee an exclusive worldwide license to develop, use, manufacture, commercialize and otherwise exploit GB261 (CD20/CD3, BsAb) , excluding mainland China, Hong Kong, Macau and Taiwan (Press release, , AUG 5, 2024, View Source [SID1234648372]).

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According to the agreement, Genor Biopharma shall receive:

a significant equity participation in the Licensee;
a double digit million US dollars upfront payment;
up to 443 million US dollars in milestone payments;
tiered single to double digits royalty payments on net sales.

GB261 is a novel differentiated CD20 / CD3 bi-specific T-Cell Engager with ultra-low affinity to bind CD3 and has Fc-enabled functions (ADCC and CDC). GB261 has previously completed a Phase Ph1/2 multi-center study of B-NHL (DLBCL and FL) in China and Australia, which demonstrated promising efficacy and a favorable safety profile. Meanwhile, GB261 has been shown to significantly reduce cytokine release (CRS) compared with bi-specifics in the same class.

The properties of GB261 make it a very promising B-cell depletion agent and its indication potential extends beyond oncology and is also applicable to various immunological and autoimmune indications where there is a large unmet medical need in patients.