AstraZeneca, KYM Biosciences complete licensing deal for cancer drug CMG901
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AstraZeneca (NASDAQ:AZN) completed a global license agreement for antibody drug conjugate (ADC) CMG901 with KYM Biosciences.
CMG901 is being evaluated in a phase 1 trial to treat Claudin 18.2-positive solid tumors, including gastric cancer.
Under the agreement which was announced in February, the British pharma giant would pay to KYM $63M upfront on closing, and development and sales-related milestone payments of up to $1.1B, plus royalties.

AstraZeneca added that the transaction does not impact its financial guidance for 2023.
KYM Biosciences is a joint venture set up by affiliates of Keymed Biosciences and Lepu Biopharma, AstraZeneca noted.
AZN +0.89% to $69.25 premarket March 30