Antengene-B(06996.HK): Exclusive License Agreement Secured for ATG-106 with Potential Milestone Payments up to Approximately USD960.5 Million

NewTimeSpace News: On 22 June 2026, Antengene Corporation Limited (06996.HK) issued a voluntary announcement. Antengene Biologics Limited, the Company’s wholly-owned subsidiary (the Licensor), signed an exclusive, sublicensable license agreement with a newly incorporated company under K2 Therapeutics for ATG-106, an investigational CDH6×CD3 bispecific T-cell engager (TCE) for solid tumor indications. Separately, K2 has been granted an exclusive option to acquire the global exclusive license (excluding Chinese Mainland, Hong Kong, Macau and Taiwan) for an undisclosed preclinical bispecific TCE candidate.

Under the main license agreement, subject to satisfaction of certain near-term conditions, the Licensor will receive upfront and near-term consideration worth approximately USD20 million, consisting of cash consideration plus a minority equity stake in the Licensee and its subsidiaries. The Group is also eligible for tiered milestone payments covering development, regulatory approval and commercial sales, capped at USD960.5 million in aggregate. Should K2 exercise the option for the second preclinical TCE program, the Licensor will obtain a comparable package of upfront cash and minority equity, together with another set of milestones up to USD960.5 million plus tiered royalties on net sales of the second asset.

K2 Therapeutics is a global biotech firm backed and founded by MPM BioImpact. The Company clarified that this transaction does not constitute a discloseable transaction under HKEX Listing Rules, and there can be no guarantee that ATG-106 will successfully complete clinical development or obtain marketing approval for commercial launch.