Metis TechBio seals $1.62b global licensing deal with Boulevard Bio

Hong Kong-listed AI-driven drug delivery innovation company Metis TechBio Co Ltd said on Tuesday it had granted Boulevard Bio, an immunotherapy company backed by healthcare investment firm Deerfield Management, exclusive worldwide rights to develop, manufacture and commercialize its experimental cancer immunotherapy candidate MTS-128 in a deal worth up to $1.62 billion.

Under the agreement, Metis TechBio will receive an upfront payment of $20 million and is eligible for up to $1.6 billion in development, regulatory and commercial milestone payments, as well as tiered royalties on future global sales, the company said.

The deal covers MTS-128, a preclinical trispecific T-cell engager (TCE) developed using the company’s proprietary AI-powered protein design platform, NanoForge.

Unlike conventional bispecific T-cell engagers, MTS-128 is designed to simultaneously engage three biological targets, with the aim of improving tumor cell killing while expanding the therapeutic window and enhancing target specificity and safety, the company said.

Boulevard Bio will obtain exclusive global rights to develop, manufacture and commercialize the candidate.

The licensing agreement marks Metis TechBio’s first major out-licensing transaction since its listing on the Hong Kong Stock Exchange in May, underscoring growing international interest in Chinese biotechnology assets developed using artificial intelligence.

The transaction is the latest in a series of sizable cross-border out-licensing transactions involving Chinese biotech companies, reflecting sustained demand from global drugmakers and investors for innovative assets originating in China, particularly in oncology and immunology.

No timeline for the start of clinical trials for MTS-128 was disclosed. The financial terms are contingent on the achievement of specified development, regulatory and commercial milestones.