Climb Bio rises on antibody license deal with Beijing Mabworks
10/01/2025 15:08
** Biotech firm Climb Bio's CLYM.O shares rise ~16% to
$2.17
** CLYM announces license deal with Beijing Mabworks Biotech
Co Ltd in a filing
** CLYM buys exclusive right to develop, manufacture, and
commercialize Mabworks' MIL116 antibody outside of China, Hong
Kong, Macau, and Taiwan, with non-exclusive rights for global
clinical studies in those regions
** MIL116, now called CLYM116, is an antibody developed by
Mabworks for treating autoimmune diseases, including IgA
nephropathy and B-cell mediated diseases
** Autoimmune diseases occur when the immune system attacks
the body's own tissues
** CLYM will pay Mabworks $9 mln upfront and up to $832 mln
upon reaching certain commercial milestones
** Mabworks has the first right to develop and sell the
antibody in China - filing
** CLYM fell 35.7% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))