InnoCare and KeyMed Jointly Announce License Agreement With Prolium

Palo Alto – January 20, 2025 – Cooley represented Beijing Tiannuo Jiancheng Pharmaceutical Technology, a 50/50 joint venture of a subsidiary of InnoCare Pharma (HKEX: 09969; SSE: 688428) and a subsidiary of KeyMed Biosciences (HKEX: 02162), on its exclusive license agreement with Prolium Bioscience for the development and commercialization of ICP-B02 (CM355), a CD20xCD3 bispecific antibody. InnoCare and KeyMed will receive aggregate payments of up to $520 million, including upfront and near-term payments and other payments subject to the achievement of certain clinical, regulatory and commercial milestones, as well as a minority equity stake in Prolium. InnoCare and KeyMed are also eligible to receive tiered royalties on future net sales of any product resulting from the collaboration. Under the terms of the agreement, Prolium will have the exclusive right to develop, register, manufacture and commercialize ICP-B02 in the non-oncology field globally and in the oncology field in ex-Asia regions.

Life sciences transactional group partner Lila Hope and associate Freddy Yip and emerging companies special counsel Michael Shen, associate Ivy Wang and legal consultant Letian Wei led the Cooley team advising Tiannuo Jiancheng, with support from life sciences associate Jameson Davis, restructuring of counsel Robert Eisenbach, tax partner Xander Lee, intellectual property partner Chen Chen and associate Xixi Sun.

Cooley previously represented KeyMed on its HK$3.1 billion initial public offering in July 2021.

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