Crescent and Kelun-Biotech Execute Double Deal to Swap Cancer Asset Rights
Strategic partnership involves regional rights for a bispecific antibody and an ADC, with clinical trials anticipated next year.
The pharmaceutical companies Crescent Biopharma (US-based) and Kelun-Biotech (China-based) have announced a strategic partnership to exchange licensing rights for two of their respective oncology drug candidates. This double deal is set to pave the way for clinical trials expected to begin next year.
The partnership involves two separate financial transactions:
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Rights to SKB105 (ADC): Kelun-Biotech is licensing the rights for its integrin beta-6 (ITGB6)-directed ADC(antibody-drug conjugate) to Crescent Biopharma for research, development, manufacturing, and commercialization in the US, Europe, and all other markets outside of Greater China.
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Crescent will make an upfront payment of $80 million to Kelun, plus up to $1.25 billion in potential development and commercial milestone payments.
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Rights to CR-001 (Bispecific Antibody): Kelun-Biotech will acquire the rights to research, develop, manufacture, and commercialize Crescent’s PD-1 x VEGF bispecific antibody (CR-001) within the Greater China region.
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Kelun will pay Crescent $20 million upfront, along with milestones totaling $30 million.
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Both licensing agreements include future royalties payable on net sales of the two products should they successfully reach the market.
Clinical Outlook
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A global Phase I/II trial of CR-001 in patients with solid tumors is anticipated to commence in Q1 2026.
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A Phase I/II clinical trial for SKB105 in patients with solid tumors is expected to start around the same timeframe.
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CR-001 is expected to potentially enhance the effectiveness of combination therapies, such as the co-administration of ADCs.
Context of East-West Collaboration
This agreement is the latest example in a strong trend of partnerships between Western pharmaceutical firms and Chinese biotechs. Analysis indicates that licensing deals between US and Chinese biopharma companies reached record highs last year, representing a 280% increase since 2020. Currently, China-based companies are responsible for 20% of drugs in development globally, underscoring the country’s growing influence in the pharmaceutical sector.
