11:26 AM EDT, 06/05/2024 (MT Newswires) -- ArriVent BioPharma ( AVBP ) said Wednesday that it signed a collaboration agreement with Alphamab Oncology's Jiangsu Alphamab Biopharmaceuticals unit to discover, develop, and commercialize antibody drug conjugates for cancer treatment.

The collaboration will leverage Alphamab's linker-payload platform and glycan-conjugation technology to identify ADCs, the company said, adding that ArriVent will have exclusive rights to develop and commercialize ADCs globally, except in greater China where Alphamab will retain such rights.

Under the deal, Alphamab will receive up to $615.5 million in upfront and potential milestone payments for the potential programs, plus tiered sales royalties from ArriVent for each ADC product, the firm said.

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