Antengene Corporation Limited (Antengene) disclosed that its wholly owned subsidiary, Antengene Biologics Limited, has signed an exclusive, sublicensable worldwide (ex-Greater China) license with K2 Therapeutics, a biotech company established by MPM BioImpact. The agreement covers ATG-106, a CDH6 x CD3 bispecific T-cell engager (TCE) targeting solid tumors, and grants K2 full rights to research, develop, manufacture and commercialize the asset outside Mainland China, Hong Kong, Macau and Taiwan.
Under the license terms, Antengene will receive approximately USD 20.00 million in upfront and near-term consideration, comprising cash and a minority equity stake in the newly formed licensee. Contingent on clinical, regulatory and commercial achievements, Antengene is eligible for additional milestone payments of up to USD 960.50 million.
A separate option agreement gives K2 an exclusive right to secure a second bispecific TCE candidate from Antengene’s pipeline. Exercise of this option would trigger a further USD 20.00 million in upfront and near-term payments and a minority equity position for Antengene in a new K2-established entity, plus potential milestones also reaching USD 960.50 million and tiered royalties on future net sales.
ATG-106 originates from Antengene’s proprietary AnTenGager platform, which deploys a “2+1” bivalent binding design, steric hindrance masking and bespoke CD3 sequences to reduce cytokine-release syndrome and boost efficacy. The candidate is being developed for ovarian and kidney cancers, complementing Antengene’s broader portfolio that spans 33 IND approvals and commercialized product XPOVIO across 10 Asia-Pacific markets.
K2 Therapeutics operates as a modular ‘hub-and-spoke’ biotech, leveraging MPM BioImpact’s 30-year track record and USD 3.50 billion in assets under management to source and advance first- and best-in-class assets globally.
Antengene clarified that the transactions fall outside Hong Kong Listing Rules’ notifiable thresholds and emphasized that successful development and commercialization of ATG-106 or the potential second TCE candidate are not guaranteed. Shareholders and potential investors are advised to exercise caution when dealing in Antengene’s shares.