Received $650 million RC148 down payment from AbbVie
April 17, 2026
Source: drugdu
31
On April 15th, Nanfang Finance News reported that Rongchang Biotechnology (09995.HK) issued a voluntary announcement stating that the company received a payment from AbbVie on April 15, 2026.The company has made an upfront payment of US$650 million for an exclusive licensing agreement for RC148. This agreement, effective March 10, 2026, grants AbbVie exclusive rights to develop, manufacture, and commercialize RC148 (the company's proprietary PD-1/VEGF bispecific antibody drug) outside of Greater China. Under the agreement, the company is also entitled to up to US$4.95 billion in subsequent milestone payments, as well as tiered royalties from net sales outside of Greater China. This payment marks a significant step forward in the company's international collaborations, will substantially enhance its cash reserves and R&D capabilities, and will facilitate faster global clinical development and pipeline value realization.
https://finance.eastmoney.com/a/202604153706015296.html
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