InnoCare and Keymed License Ex-China Rights for Bispecific to RTW-Backed Biotech in $520M Agreement

Chinese biotechs InnoCare Pharma and KeyMed Biosciences have licensed the international rights for their clinical-stage bispecific antibody, ICP-B02 (also known as CM355), to Prolium Biosciences, a U.S.-based company established by RTW Investments.
The deal involves $17.5M in upfront and near-term payments, with potential milestone payments of up to $502.5M and tiered royalties on net sales. In addition, InnoCare and KeyMed will receive a minority equity stake in Prolium and will equally split all earnings from the agreement.
ICP-B02 is a CD20xCD3 bispecific antibody currently in a phase 1/2 trial in China for relapsed or refractory non-Hodgkin lymphoma (NHL). Early results have been promising, with all 13 patients receiving doses of 6 mg or higher responding to treatment, particularly those with follicular lymphoma and diffuse large B-cell lymphoma. The therapy is being evaluated in both intravenous and subcutaneous formulations. InnoCare is also planning to expand trials to include ICP-B02 in combination with other immunochemotherapies for earlier lines of NHL treatment, with U.S. regulatory approval granted for further studies.

Beyond its cancer indications, Prolium has secured global rights to develop ICP-B02 for non-cancer uses. This aligns with RTW Investments’ broader strategy of establishing and supporting biotech ventures. RTW launched Prolium in 2024 and previously helped create Kailera Therapeutics, an obesity-focused biotech, among others.
InnoCare is renowned for its BTK inhibitor orelabrutinib, approved in China for lymphoma since 2023. This deal further cements its reputation in oncology innovation. Meanwhile, KeyMed has had a particularly active January, forming Timberlyne Therapeutics with Mountainfield Venture Partners to advance a clinical-stage CD38-targeting antibody. Previously, KeyMed co-founded KYM, a joint venture with Lepu Biopharma, which received $63M from AstraZeneca in 2023 for an early-phase antibody-drug conjugate.

This collaboration highlights the growing interest in Chinese biotech innovations on the global stage, with RTW-backed Prolium poised to advance ICP-B02 development outside China. The partnership combines the scientific expertise of InnoCare and KeyMed with Prolium’s resources, aiming to expand access to potentially life-saving therapies for patients worldwide.