Chiome Bioscience Inc. announced that Shanghai Henlius Biotech, Inc. has entered into Exclusive License Agreement with Chiome for development and commercialization of the anti-TPOR-2 antibodies, LIV-2008/2008b, generated by Chiome. Under the Exclusive License Agreement, Chiome will grant an exclusive license, with sublicensing rights, to Henlius concerning development, manufacturing and marketing in China (including Hong Kong Special Administrative Region and Macau Special Administrative Region and Taiwan region) for LIV-2008/2008b. In addition, Chiome grants to Henlius option rights concerning development, manufacturing and marketing of LIV-2008/2008b in the rest of the world other than the initial
terretory, China (including Hong Kong Special Administrative Region and Macau Special Administrative Region and Taiwan region). Chiome will receive USD 1 million as an upfront payment upon signing the Exclusive License Agreement. In case Henlius exercises the option rights as described above, the total value of the agreement which Henlius shall pay to Chiome will be USD 122.5 million . In addition, after the launch of LIV-2008/2008b or related products (Product), Chiome is eligible to receive royalties according to Henlius's amount of sales of the Product. Upon execution of this Agreement, the upfront payment shall be booked as sales of Drug Discovery and Development Business for the first quarter of the fiscal year ending December 31, 2021 and the impact on the business performance for this fiscal year is currently being considered.