ImmuneOncia Therapeutics, Inc., a U.S. joint venture of South Korean pharmaceutical company Yuhan Corp., has entered into an exclusive collaboration deal with 3D Medicines Inc., a China-based biopharmaceutical company developing immuno-oncology drugs.

ImmuneOncia Therapeutics announced Wednesday that it has signed a $470.5 million exclusive license-out deal with 3D Medicines to grant the Chinese pharma license to develop, manufacture and commercialize IMC-002 in Greater China (Mainland China, Hong Kong, Macau, and Taiwan).

IMC-002 is a novel immunotherapy targeting a protein called CD47, which enables cancer cells to evade attacks from immune cells.

Under terms, ImmuneOncia will receive an upfront payment of $8 million and future development and commercial milestones of up to $462.5 million. It is also eligible to receive royalties on sales of IMC-002 in Greater China, the company said.

By Park Yun-gyun and Lee Soo-min

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