Summary by Moomoo AI
Alphamab Oncology announced an exclusive licensing agreement with Sludi Pharmaceuticals and Glenmark for its independently developed anti-PD-L1 single-domain antibody Fc fusion protein KN035 (Envolone Anti-Injection, trademark: Envida®). The agreement, signed on 24 January 2024, grants Glenmark an exclusive licence to develop and commercialise KN035 in specific regions. Under the agreement, Corning will collect up to $700.8 million in upfront and milestone payments, as well as royalty fees based on KN035 net sales. CorningJerry believes this collaboration will contribute to the rapid commercialization of KN035 in related markets and have a positive impact on its commercialization process. Glenmark is a global pharmaceutical company focused on treatments such as respiratory, dermatology and oncology, while Sludi Pharmaceuticals focuses on the development of immuno-oncology drugs. Corning said the collaboration will leverage Glenmark's resources and team to accelerate KN035's market share in select regions.