Harbour Biomed Reclaims Global Rights to HBM7008

On August 9, 2024, the company revealed that it had successfully reclaimed the worldwide development and commercialization rights to HBM7008 from Cullinan Oncology. This move signifies the end of Cullinan Oncology's exclusive rights to market HBM7008 in the United States, a license initially granted by Platinum Pharma in February 2023.

According to the mutual termination agreement, Cullinan Oncology will officially exit the partnership on November 3, 2024. Notably, the agreement does not require Platinum Pharma to refund any fees collected during the previous arrangement. This financial aspect ensures a more stable and robust financial outlook for the company's future endeavors.

Moreover, the company retains significant rights to conduct clinical trials for HBM7008 within the European Union and Australia, and it has access to all clinical data generated from these trials. This strategic setup creates a strong foundation for the drug's further research and development on a global scale.

HBM7008 is a unique bispecific antibody independently developed by Platinum Pharmaceutical, capable of simultaneously targeting B7-H4 and 4-1BB. The drug is currently in the crucial phase I clinical trials stage, primarily aimed at treating solid tumors. The complete recovery of global development and commercialization rights for HBM7008 presents a larger platform for Platinum Pharma to explore this drug's potential and possible commercialization opportunities.

The company has declared its unwavering commitment to investing in the ongoing development and commercialization of HBM7008. With continued dedication, they aim to provide new treatment options for patients and contribute significantly to the field of human health.