1.Date of occurrence of the event: 2021/12/08
2.Counterparty to the contract or commitment: Biosion, Inc.
3.Relationship with the Company: None
4.Starting and ending dates (or rescission date) of the contract or commitment: 2021/12/08
5.Major content (not applicable where rescinded):
(1)OBI has entered into an exclusive license agreement of an anti-Trop2 humanized monoclonal antibody, BSI04702, for worldwide rights excluding China, Hong Kong and Macao, with Biosion, Inc. (hereafter referred to as Biosion). The license agreement enables OBI to conduct further preclinical and clinical development, registration, and commercialization of BSI04702 as an Antibody Drug Conjugate and other derivative products.
(2)Under the terms of the agreement, the license fees include an upfront payment upon signing, future development milestones and net sales royalties. OBI will disclose the future financial payments as required by relevant regulations.
(3)The licensing deal was resolved by the Company’s Board of Directors on November 26, 2021. Please refer to the Company’s material information announcement on the same date.
6.Restrictive covenants (not applicable where rescinded): Pursuant to the license agreement.
7.Commitment (not applicable where rescinded): Pursuant to the license agreement.
8.Any other important agreement (not applicable where rescinded): Pursuant to the license agreement.
9.Effect on company finances and business: The anti-Trop2 humanized antibody is in a discovery/preclinical development stage. The target Trop2 is overexpressed in multiple cancers and is associated with tumor progression and the prognosis of cancer patients. Given the considerable medical unmet needs, OBI anticipates favorable commercial potentials upon successful
clinical development results.
10.Concrete purpose/objective: The in-licensing of BSI04702 would further strengthen OBI’s novel anti-cancer therapeutics pipeline worldwide.
11.Any other matters that need to be specified: New drug development requires long process, vast investments and with no guarantee in success which may pose investment risks. The investors are advised to exercise caution and conduct thorough evaluation.