Yitengjiahe (06998): Candid Therapeutics acquired by UCB Initial payment of $2 billion

Financial Intelligence APP News: E-Town Jiahe (06998) announced that on August 2, 2024, the group entered into a licensing agreement and equity agreement with TRC 2004, Inc. ("Licensee"). According to the licensing agreement, the group has agreed to grant the Licensee exclusive global rights (excluding Mainland China, Hong Kong, Macau, and Taiwan) to develop, use, manufacture, commercialize, and otherwise exploit GB261. As part of the licensing agreement and equity agreement, in exchange for the license, the group will receive (i) equity in the Licensee; (ii) an upfront payment of tens of millions of dollars; (iii) milestone payments of up to $443 million; and (iv) tiered royalties in single to double-digit percentages of net sales. In September 2024, Candid Therapeutics, Inc. merged with TRC 2004, Inc. As a result of the merger, TRC 2004, Inc. transferred its rights under the licensing agreement to Candid Therapeutics, Inc., and the equity acquired by the group from TRC 2004, Inc. under the equity agreement was converted into equity in Candid Therapeutics. The group and Candid Therapeutics have entered into an amended agreement on March 28, 2025, to revise and supplement certain terms of the licensing agreement to advance the clinical development of GB261 in the field of autoimmune diseases. Clinical studies for rheumatoid arthritis, systemic lupus erythematosus, and other conditions have been initiated, expanding its therapeutic applications.