Y-Biologics announced that it has signed a $1.3 billion technology transfer agreement with U.S.-based Navigator Medicine for the dual-antibody drug IMB-101 (OXTIMA), developed in collaboration with IM Biologics and HK inno.N. 

The contract, covering global regions excluding Asia, includes an upfront payment of $20 million and milestones up to $940 million. Additionally, royalties will be received based on post-launch sales.

IMB-101 is a dual-antibody candidate for autoimmune diseases, targeting both innate and adaptive immune responses. The candidate was developed through joint research between Y-Biologics and HK inno.N in 2016. IM Biologics, founded by HK inno.N, received FDA approval for a Phase 1 clinical trial in August last year, and this agreement was signed prior to trial completion.

Navigator Medicine, focusing on OX40-OX40L signal inhibitors, will continue the development of IMB-101 with backing from RA Capital Management.

Y-Biologics, a platform company for antibody drug development, entered the KOSDAQ market in December last year.