Percheron Therapeutics (ASX:PER) Secures Worldwide License for HMBD-002
License Agreement
Percheron Therapeutics Limited (ASX:PER) has entered into a worldwide exclusive license agreement with Hummingbird Bioscience for HMBD-002, a monoclonal antibody therapy targeting VISTA. The agreement includes an upfront payment of US$3 million (AU$4.6 million), contingent milestone payments up to US$287 million (AU$443 million), and royalties on net sales.
HMBD-002 Development and Clinical Plans
HMBD-002 has completed a Phase I clinical trial in the United States, demonstrating pharmacological activity and safety. Percheron plans to initiate a Phase II clinical trial in CY2026, following consultations with clinicians and regulatory agencies to determine the optimal development strategy.
Executive Comments
Dr James Garner, CEO of Percheron, stated, “This is a transformative step for our company. After the challenges of recent months, we are once again, a mid-clinical-stage drug development business. We remain absolutely committed to answering unmet medical need.”
Dr Piers Ingram, CEO of Hummingbird, commented, “We are pleased to pass the baton on HMBD-002 to the Percheron team. We remain strong believers in the asset, and we look forward to seeing Percheron’s success as it returns to the clinic.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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