Biokin will receive a USD 250 million milestone payment from Bristol Myers Squibb (BMS) following achievement of a clinical milestone in global Phase II/III IZABRIGHT-Breast01 trial for EGFR/HER3 bispecific antibody-drug conjugate (ADC) izalontamab brengitecan, representing the largest single milestone payment in Chinese innovative drug out-licensing history. The transaction follows an USD 800 million upfront payment in a December 2023 agreement with potential total value of USD 8.4 billion, including development and commercialisation milestones. Izalontamab brengitecan thus becomes the first-in-class bispecific ADC advancing to Phase III development, with breakthrough therapy designation (BTD) in urothelial carcinoma in the US.

Biokin's pipeline includes fifteen clinical-stage assets, including HER2-targeting ADC BL-M07D1 with three Phase III trials in breast cancer, and CD33-directed ADC BL-M11D1 for acute myeloid leukemia (AML). The company is conducting forty izalontamab brengitecan trials globally, including eleven Phase III studies in China with seven BTDs and priority review for recurrent metastatic nasopharyngeal carcinoma. The milestone achievement demonstrates sustainable value creation beyond initial licensing deals, validating China's innovative drug development capabilities in targeted oncology therapeutics.

PharmCube's NextBiopharm® database shows that izalontamab brengitecan is undergoing a total of 83 clinical studies. Click here to request a free trial for NextBiopharm®.