Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (the "Company") announced that the Company and HBM Holdings Limited  ("Harbour BioMed") (together with the Company, the "Licensors"), have entered into an exclusive license agreement (the "License Agreement") with Windward Bio AG ("Windward Bio") for SKB378/HBM9378^[1], an anti-thymic stromal lymphopoietin (TSLP) monoclonal antibody (mAb) jointly developed by the Licensors.

Subject to the terms and conditions of the License Agreement, Windward Bio is granted an exclusive license for the research, development, manufacturing and commercialization of SKB378/HBM9378 globally (excluding Greater China and several Southeast and West Asian countries). In return, the Licensors are eligible to receive a total of up to US$970 million upfront and milestone payments as well as single to double-digit tiered royalties on net sales of SKB378/HBM9378. The US$45 million upfront and near-term payments include both cash consideration and equity in the parent company of Windward Bio. Subject to the terms and conditions of the License Agreement, the Licensors are also eligible to receive additional payment from Windward Bio if Windward Bio undergoes a near-term change of control or enters into a sublicense agreement with a third party. The payments to be made by Windward Bio to the Licensors under the License Agreement shall be paid in equal amounts to the Company and Harbour BioMed.

Windward Bio is a clinical-stage, drug development company committed to improving outcomes for people living with advanced immunological conditions with an initial focus on severe respiratory conditions. It is led by a highly experienced team of biopharmaceutical executives with deep discovery, development, and commercialization expertise, and is advancing a potential best-in-class TSLP monoclonal antibody into phase 2 development and creating novel, long-acting bispecific programs for immunological diseases. Collectively, they have contributed to more than 15 product launches and executed two Nasdaq IPOs and two sales.

In connection with the License Agreement, Windward Bio announced a US$200 million Series A financing round led by OrbiMed, Novo Holdings and Blue Owl Healthcare Opportunities with the co-investment of SR One, Omega Funds, RTW Investments, Qiming Venture Partners, Quan Capital, and Pivotal bioVenture Partners. 

Dr. Micheal Ge, CEO of Kelun-Biotech said, "We are pleased to have entered into a partnership with Windward Bio for the SKB378/HBM9378, one of our pioneering pipelines in immunology area, which is not only a proof of its potential market value globally, but also a practice of our active exploration of global cooperation. SKB378/HBM9378 is our first immunology product candidate out licensed with a NewCo model. In the future, we will continue to expand our global presence and strategic partnerships to maximize the value of our pipelines."