LG Chem Life Sciences of South Korea formed a nearly $1 billion IO collaboration with Cue Biopharma, a Boston area immunotherapy company. LG will have Asia rights, including China, to three Cue IO candidates, all of them in preclinical development. LG will provide its biologics manufacturing expertise to the portfolio. LG paid an unspecified upfront fee, invested $5 million in Cue, and will be responsible for up to $400 million in milestones. In addition, LG will have a two-year option on global rights to another Cue candidate in a deal worth over $500 million in fees and potential milestones.
Source: China Biotoday
