Harbour BioMed has entered a strategic partnership with Otsuka Pharmaceutical focusing on the development of HBM7020, a B-cell maturation antigen (BCMA) xcluster [cross cluster] of differentiation 3 (CD3) bispecific T-cell engager aimed at treating autoimmune diseases.

Otsuka will receive exclusive global rights to develop, manufacture and commercialise HBM7020 outside Greater China.

In exchange, Harbour BioMed will receive an upfront payment and near-term payments of $47m.

The company could also earn up to $623m in additional payments plus royalties on future net sales.

Harbour BioMed founder, chairman and CEO of Jingsong Wang commented: "We are delighted to collaborate with Otsuka, a global healthcare leader renowned for its innovative approach to addressing unmet medical needs.

“This collaboration underscores the strength of Harbour BioMed's proprietary Harbour Mice and HBICE technology platforms, which enable the rapid development of fully human bispecific antibodies with optimised safety and efficacy profiles. By leveraging our unique capabilities, we are well-positioned to advance next-generation biotherapeutics that can make a meaningful difference in patients' lives worldwide."

The partnership will allow for potential future collaborations in the T-cell engager space.

HBM7020 is developed using  Harbour BioMed's HBICE technology and its Harbour Mice platform and is designed for targeted cell elimination by activating potent T cell responses.

In August 2023, the therapy received investigational new drug clearance from China's National Medical Products Administration to start a Phase I cancer trial.

Otsuka Pharmaceutical president and representative director Makoto Inoue noted: “HBM7020 is expected to demonstrate efficacy in a broad range of autoimmune diseases in which B cells play a major role in disease pathogenesis, and we hope to contribute further to the field of specialised autoimmune diseases and thereby benefit patients.”

In 2024, Otsuka announced the acquisition of US-based Jnana Therapeutics in a deal worth up to $1.1bn.