Laekna-B (02105.HK): Grants Vasque Bio Exclusive License for LAE118 Outside Greater China, Up to USD 517 Million in Milestone Payments
Newtimespace (newtimespace.com) reports that Laekna Limited (2105.HK) announced that on June 9, 2026, the Group entered into an exclusive license agreement with Vasque Bio, Inc. Under the terms and conditions of the license agreement, the Group granted Vasque Bio an exclusive global license (excluding Mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan) to develop, manufacture, commercialize, and otherwise exploit LAE118, a novel PI3Kαpan-mutant selective inhibitor independently developed by the Group, together with related rights.
In return, the Group is entitled to a non-refundable and non-creditable upfront cash payment of USD 10 million, and, without additional consideration, the right to receive equity representing up to a high double-digit percentage of Vasque Bio's issued common shares, or a cash payment in lieu of such shares. Under the license agreement, the Group is also entitled to development and sales milestone payments totaling up to USD 517 million, as well as tiered sales royalties calculated based on future net sales of LAE118 in the licensed territory at percentages ranging from single-digit to double-digit. If Vasque Bio completes a qualified strategic collaboration or acquisition transaction meeting specified conditions (related to the use of LAE118), the Group will be entitled to additional payments of up to 50% of the value of such strategic transaction.
The Board believes that the signing of this license agreement is in the best interests of the Company and its shareholders. Vasque Bio focuses primarily on the development of therapies for rare diseases, while the Group focuses on developing LAE118 for oncology indications outside the licensed territory. This opportunity allows the Group to accelerate the global development and commercialization of LAE118 for broader indications within the licensed territory, and expedite downstream value creation. The upfront and milestone payments will strengthen the Group's financial position to support future development. The right to acquire Vasque Bio's issued common shares also enables the Group to retain the future appreciation potential of LAE118.
LAE118 is a novel PI3Kαpan-mutant selective inhibitor independently developed by the Group. As of the date of this announcement, LAE118 has received IND approvals from the U.S. Food and Drug Administration and the Center for Drug Evaluation of the China National Medical Products Administration. Vasque Bio, Inc. is a U.S.-headquartered, clinical-stage biotechnology company dedicated to developing innovative therapies to transform the standard of care for patients suffering from severe and life-altering rare diseases. Vasque Bio is supported by a distinguished syndicate of top-tier life science investors, including The Column Group and F-Prime.
To the best of the Company's knowledge, information, and belief, as of the date of this announcement, Vasque Bio is independent of and not connected with the Company and its connected persons. The transaction contemplated under this license agreement does not constitute any notifiable transaction or connected transaction of the Company under the Listing Rules.
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