Shanghai Henlius Biotech, Inc. (HKEX: 2696) has licensed two oncology T cell engager (TCE) programs from Irvine, California-based Amberstone Biosciences, Inc., paying USD 4 million upfront for worldwide exclusive rights to develop, manufacture, and commercialize both products across all human indications. The deal carries potential milestone payments of up to USD 884.16 million — comprising up to USD 232.16 million in research fees and development and regulatory milestones, plus up to USD 652 million in sales milestones — along with single-digit percentage royalties on net sales. The direction and global scope of the deal is notable in a cross-border biotech market more commonly characterized by Chinese companies licensing assets to US and European partners.
The two programs will be generated through early-stage research conducted jointly by the parties, targeting antigens designated by Henlius using Amberstone's T-MATE (Tumor Microenvironment Activated ThErapeutics) platform. The company describes T-MATE as designed to modulate TCE activation status differentially between tumor tissue and peripheral tissues, with the stated aim of improving the therapeutic window and reducing the safety limitations that have constrained conventional TCE approaches in solid tumors. Once preclinical candidates are identified, Henlius assumes full responsibility for subsequent development, manufacturing, and commercialization. The specific targets have not been disclosed.
Amberstone was founded in 2018 and, according to the company, focuses on conditionally activated antibody therapies for oncology. Its most recent disclosed financing was a USD 12 million Series A in January 2022, co-led by Viva Biotech Innovation Center, CFW Ventures, and Sinovation Ventures, with proceeds earmarked for IND-enabling studies. The Henlius agreement is Amberstone's first publicly disclosed commercial licensing transaction.