HBM Holdings' (HKG:2142) joint venture with Boston Children's Hospital, HBM Alpha Therapeutics, agreed to collaborate with an unnamed business partner to advance novel therapies targeting corticotropin-releasing hormone or CRH for multiple disorders.
Under the tie-up, the partner gets exclusive global rights to develop and commercialize HBM9013, an anti-CRH-neutralizing antibody. The license excludes China, Hong Kong, Taiwan and Macau.
In return, HBM Alpha will receive up to $395 million, including upfront, development, regulatory, and commercial milestone payments, as well as tiered royalties on future net product sales.
Additionally, HBM Alpha is entitled to a minority interest in the business partner, according to a Wednesday bourse filing.
HBM9013 is an antibody program developed by the group for CRH-related disorders, including congenital adrenal hyperplasia, a group of diseases caused by gene mutations.
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