12:27 PM EST, 01/09/2025 (MT Newswires) -- Climb Bio ( CLYM ) said Thursday it has signed an exclusive licensing deal with Beijing Mabworks Biotech to develop and commercialize anti-APRIL monoclonal antibody CLYM116 outside of Greater China to potentially treat patients with IgA nephropathy and other B-cell-mediated diseases.

Under the agreement, Climb Bio ( CLYM ) said it will pay $9 million upfront to Mabworks and make milestone payments as well as low- to mid-single-digit royalties on net sales outside of Greater China.

Climb Bio ( CLYM ) said it is conducting preclinical studies on CLYM116 and expects to share data later in 2025.

Additionally, the company said it had about $212.9 million in cash, cash equivalents and short-term marketable securities as of Dec. 31, which is expected to fund operations through 2027.

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