Boehringer Ingelheim and a pharmaceutical company announced the authorization agreement and equity cooperation on a clinical-stage antibody product.

Boai Pharmaceutical announced on February 23 that it has reached a licensing agreement and equity cooperation with Solstice Oncology, granting the latter exclusive development and commercialization rights for their clinical stage candidate product HBM4003 outside the Greater China region. According to the agreement, Boai Pharmaceutical will receive an upfront payment worth over $105 million, including a $50 million cash payment, a $5 million payment in the near future, and equity in Solstice Oncology worth over $50 million. In addition, based on the achievement of certain future milestones, Boai Pharmaceutical also has the opportunity to receive up to approximately $1.1 billion in development, regulatory, and commercial milestones payments, as well as tiered royalties based on net sales outside the Greater China region.