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Alphamab Oncology Licenses Cancer Drug Candidate to Pathos AI for Up to $2.09 Billion

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Alphamab Oncology's (HKG:9966) wholly owned subsidiary, Jiangsu Alphamab Biopharmaceuticals, has granted Pathos AI an exclusive license to develop and commercialize cancer drug JSKN016 outside mainland China, Hong Kong, Macau and Taiwan, in a deal worth up to $2.09 billion.

Under the agreement, Alphamab will receive a $125 million upfront payment and is eligible for additional milestone payments and tiered royalties based on sales in the licensed markets, according to a Hong Kong bourse filing.

As part of the deal, Pathos AI granted Alphamab an option to invest up to $62.5 million in its preferred shares.

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