Investment company RTW Investments has launched a new biotech company called Prolium Bioscience, to advance the development of ICP-B02, a CD20×CD3 bispecific antibody originating from China’s Keymed Biosciences and developed in partnership with InnoCare Pharma.
The agreement grants Prolium exclusive rights to develop and commercialise the drug globally in non-oncology indications and outside Asia for oncology.
Under the deal, Prolium will pay $17.5m upfront, with potential milestone payments totalling $502.5m, according to a Hong Kong Stock Exchange filing. Keymed and InnoCare will also hold a minority equity stake in Prolium and are eligible for tiered royalties on future net sales.
ICP-B02 is a bispecific antibody designed to bind CD20 on tumour cells and CD3 on T cells, redirecting and activating T cells to attack tumour cells through T cell-directed cellular cytotoxicity (TDCC). The therapy is being evaluated in a Phase I/II clinical trial (NCT05210868) in China for relapsed/refractory non-Hodgkin lymphoma (NHL). Early results show potential in both intravenous and subcutaneous formulations, particularly in follicular lymphoma (FL) and diffuse large B-cell lymphoma (DLBCL), according to KeyMed and InnoCare.
A planned dose-expansion study will explore ICP-B02 in combination with other immunochemotherapies, targeting earlier lines of NHL treatment. The combination therapy’s investigational new drug (IND) application has been approved.
The Prolium deal highlights the growing trend of China-derived experimental therapies entering the US market. Keymed Biosciences has been a prominent player in the growing trend of China-based biotech companies licensing assets to international startups. Earlier this month, Keymed licensed two candidates to newly launched biotechs Timberlyne Therapeutics and Ouro Medicines, which raised $180m and $120m in Series A funding rounds, respectively.
Timberlyne focuses on CM313, an IgG1 monoclonal antibody targeting autoimmune diseases. Keymed granted ex-China rights to CM313 in exchange for an undisclosed upfront payment, milestone payments, royalties, and an equity stake in Timberlyne.
Ouro launched to develop antibody drugs for chronic inflammatory conditions and plans to advance a T cell engager called OM336 licensed from Keymed into clinical testing this year. The company is also developing additional T cell engagers and therapies targeting specific subsets of malfunctioning B cells implicated in autoimmune diseases.
Keymed has secured other high-profile licensing deals in recent years. In November 2024, the company licensed its bispecific antibody CM336 to Platina Medicines, a subsidiary of Ouro, for global rights outside of China, Hong Kong, Macau, and Taiwan. The agreement included a $16m upfront payment and up to $610m in milestone payments.
Additionally, in February 2023, Keymed and Lepu Biopharma’s joint venture KYM received $63m from AstraZeneca for early-phase antibody-drug conjugate (ADC) CMG901, highlighting the company’s growing influence in the global biotech landscape.
