China-based Huahui Health has granted BeOne Medicines (Nasdaq: ONC) a global exclusive option over HH160, a preclinical trispecific antibody targeting PD-1, CTLA-4, and VEGF-A simultaneously, in a cancer immunotherapy collaboration that carries a headline value of up to USD 2.02 billion. Under the agreement, BeOne Medicines (NASDAQ: ONC) pays an upfront USD 20 million to secure the option, with a further USD 100 million due upon formal exercise. Huahui Health, a privately held Beijing-based biopharmaceutical company founded in 2015, retains ownership of the asset through the option period.
BeOne — formerly BeiGene, redomiciled to Switzerland and rebranded in 2025 — would receive global rights to develop, manufacture, and commercialize HH160 upon option exercise. Beyond the exercise payment, Huahui Health is eligible for up to USD 1.9 billion in development, regulatory, and commercial milestones, plus tiered royalties on net sales. The parties also agreed to discuss BeOne's potential participation in Huahui Health's future financing activities, though no equity terms were confirmed.
Deal context
HH160 is described by Huahui Health as a symmetrical hexavalent trispecific antibody engineered on its proprietary PolyBoost multispecific antibody platform. The molecule simultaneously engages three targets: PD-1 and CTLA-4, both co-inhibitory receptors whose blockade restores and amplifies T cell anti-tumor activity, and VEGF-A, a pro-angiogenic cytokine whose neutralization can starve tumors of blood supply and may enhance immune infiltration of the tumor microenvironment. A 2025 AACR abstract — titled "A symmetrical hexavalent trispecific antibody, HH160, targeting PD-1, CTLA-4 and VEGF-A for enhanced anti-cancer effects" — represents the only public scientific disclosure for the asset, confirming its preclinical stage. No clinical trial identifier, IND filing, or regulatory designation has been publicly disclosed for HH160 in any jurisdiction.
The individual targets are well validated across approved therapies, and bispecific antibodies combining two of the three axes are in active clinical development. Akeso's cadonilimab targets PD-1 and CTLA-4, while ivonescimab addresses PD-1 and VEGF. HH160's trispecific format, combining all three in a single symmetrical molecule, has no direct approved or late-stage equivalent in the public domain.
The PolyBoost platform's symmetrical architecture is intended to address a core engineering challenge in multispecific antibody design: maintaining binding affinity, molecular stability, and manufacturability across all three arms simultaneously. A symmetrical hexavalent format — two binding sites per target — preserves avidity at each individual target without the chain-mispairing risks associated with asymmetric heterodimerization strategies used by competing platforms.