Hong Kong-listed METiS TechBio (HKEX: 7666) has licensed its preclinical trispecific T-cell engager MTS-128 to Boulevard Bio, a Deerfield Management-backed US biotech, in a deal worth up to USD 1.62 billion — the largest disclosed preclinical trispecific TCE out-license on record. METiS receives USD 20 million upfront plus up to USD 1.6 billion in development, regulatory, and commercial milestone commitments, along with tiered royalties. The agreement grants Boulevard Bio exclusive worldwide rights to develop, manufacture, and commercialize MTS-128, with METiS retaining no territorial carve-outs.
The deal arrived just 47 days after METiS raised USD 269 million via its May 2026 HKEX IPO, and appears to have been substantially negotiated prior to listing. METiS described it as an outgrowth of a pre-existing strategic alliance with Deerfield, with Boulevard Bio serving as the designated development vehicle.
MTS-128 is a trispecific T-cell engager described by METiS as generated entirely through its proprietary NanoForge AI platform, specifically the AiProtein engine. Trispecific TCEs are engineered to engage three targets simultaneously — typically a tumor-associated antigen and two T-cell activating or co-stimulatory receptors — compared with the single tumor antigen plus CD3 architecture of conventional bispecific engagers. METiS claims this format can enhance target cell killing efficiency, widen the therapeutic window, and reduce off-target toxicity, though MTS-128's specific targets have not been publicly disclosed, and no clinical or preclinical data have been released.
The NanoForge platform integrates AI foundation models, molecular dynamics simulation, quantum chemistry, and autonomous AI agents (the AARON antibody design system) within an end-to-end engineering loop. METiS has previously demonstrated platform utility with MTS-004, an AI-formulated small molecule that completed Phase III studies for pseudobulbar affect in China, and MTS109, an mRNA-encoded in vivo CAR-T therapy that entered Phase I for refractory autoimmune disease in 2026. MTS-128 represents the first out-licensing of an asset from the AiProtein engine specifically.