This collaboration with Eisai is an important advancement in BlissBio's corporate development plan to further develop BB-1701 globally and help advance BB-1701 toward late stage of development. BB-1701 is currently in Phase I/II studies in the US and China with over one hundred patients dosed in various types of cancers.

Under the terms of the agreement, BlissBio will receive upfront and milestone payments, and BlissBio and Eisai will conduct co-development activities related to BB-1701 through an option period. Upon Eisai's exercise of its option to enter into a strategic collaboration license of BB-1701, BlissBio will receive an option exercise payment and be eligible for development and commercial milestone payments up to an aggregate of $2 billion, as well as royalties on sales. Upon the exercise of the option, Eisai will receive worldwide (excluding Greater China) rights to develop and commercialize BB-1701.

"This clinical collaboration with Eisai, one of a leading Japanese pharmaceutical company with strong oncology R&D capability worldwide, is a significant accomplishment for BlissBio, as it allows us to further develop this promising compound, BB-1701", stated Dr. Ziping Wei, Chief Executive Officer of BlissBio. "Through this important partnership we will commit to working with Eisai to advance the development of BB-1701 for the benefit of patients worldwide."