BUZZ-Climb Bio rises on antibody license deal with Beijing Mabworks

Reuters

10 Jan

BUZZ-Climb Bio rises on antibody license deal with Beijing Mabworks

** Biotech firm Climb Bio's CLYM.O shares rise ~16% to $2.17

** CLYM announces license deal with Beijing Mabworks Biotech Co Ltd in a filing

** CLYM buys exclusive right to develop, manufacture, and commercialize Mabworks' MIL116 antibody outside of China, Hong Kong, Macau, and Taiwan, with non-exclusive rights for global clinical studies in those regions

** MIL116, now called CLYM116, is an antibody developed by Mabworks for treating autoimmune diseases, including IgA nephropathy and B-cell mediated diseases

** Autoimmune diseases occur when the immune system attacks the body's own tissues

** CLYM will pay Mabworks $9 mln upfront and up to $832 mln upon reaching certain commercial milestones

** Mabworks has the first right to develop and sell the antibody in China - filing

** CLYM fell 35.7% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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