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May 7, 2024 -
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US-based Zenas BioPharma closes upsized Series C round at $200m
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Zenas BioPharma Raises $200M in Series C Financing
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Zenas BioPharma Announces Upsized $200 Million Series C Financing to Advance Mid- and Late-Stage Immunology-Focused Clinical Development Programs
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OBI Pharma Inc (浩鼎生技) has signed an agreement with Odeon Therapeutics (Hong Kong) Ltd (康騰浩諾香港生物科技) to give it the rights to two of its experimental drugs, OBI-833 and OBI-999, in China, OBI said on Tuesday.
OBI would receive US$200 million for the licensing of the cancer drugs, which includes US$12 million in newly issued Odeon shares as a signing payment, and US$188 million as development and commercialization milestone payments, the Taipei-based company said in a regulatory filing.
The drug developer would also receive double-digit percentage royalties on Odeon’s net sales of the two drugs after they are approved in China, it said.
OBI