Eliem Therapeutics Enters into Exclusive Licensing Agreement with Beijing Mabworks Biotech

Eliem Therapeutics (NASDAQ:ELYM) has recently announced the signing of a significant technology transfer and exclusive license agreement with Beijing Mabworks Biotech Co., Ltd. The agreement outlines the granting of exclusive sublicensable rights and licenses to Eliem Therapeutics under specific patent rights and related know-how linked to Mabworks’ proprietary antibodies associated with the MIL116 antibody program known as CLYM116. These licenses cover the development, manufacturing, and commercialization of the Licensed Compounds and Licensed Products outside specific territories.

As part of the agreement, Eliem Therapeutics will make various payments to Mabworks, including an upfront payment of $9.0 million and potential milestone payments totaling up to $862 million based on development, regulatory achievements, and commercial milestones for all Licensed Products. Additionally, tiered royalties ranging from low to mid-single-digit percentages on aggregate annual net sales of all Licensed Products in the Licensed Territory are also agreed upon.

The Company is committed to utilizing its resources to develop, obtain regulatory approvals, and commercialize Licensed Products in the United States. Furthermore, Eliem Therapeutics has granted Mabworks a right of first refusal to develop and commercialize products containing antibodies directed to tumor necrosis factor ligand superfamily member 13 (“APRIL”) in certain territories.

Regarding financial matters, the Company revealed preliminary estimates of its financial position as of December 31, 2024. Eliem Therapeutics reported approximately $212.9 million in cash, cash equivalents, and marketable securities. Moreover, the Company disclosed having roughly 67.3 million shares of common stock outstanding as of the same date.

Looking ahead, following the Agreement, Eliem Therapeutics anticipates that its existing cash resources will be adequate to fund its planned operations through 2027. However, the Company acknowledged the potential for changes in circumstances that could impact the timeline.

The announcement marks a strategic move for Eliem Therapeutics, aligning with its goal of advancing innovative therapies and expanding its global reach through strategic partnerships.

This press release contains forward-looking statements that involve inherent risks and uncertainties, emphasizing the company’s cautious optimism for the future while acknowledging potential challenges. The Company is geared towards maintaining transparency and regulatory compliance, with further details expected upon the filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Eliem Therapeutics’s 8K filing here.

Eliem Therapeutics Company Profile

Eliem Therapeutics, Inc, a biotechnology company, focuses on developing therapies for neuronal excitability disorders to address unmet needs in psychiatry, epilepsy, chronic pain, and other disorders of the peripheral and central nervous systems. The company was incorporated in 2018 and is headquartered in Wilmington, Delaware.