- FibroGen Inc (NASDAQ:FGEN) and HiFiBiO Therapeutics have entered into a licensing agreement for three programs in the immuno-oncology and autoimmune space.
- FibroGen exclusively in-licenses HiFiBiO’s Galectin-9 program and obtains an exclusive option to their CXCR5 and CCR8 programs.
- Under the terms of the agreement, FibroGen will make a $25 million upfront payment to HiFiBiO and payments upon option exercise.
- In addition, HiFiBiO may receive up to a total of an additional $1.1 billion in milestone payments across all three programs.
- HiFiBiO will also be eligible to receive royalties based upon worldwide net sales.
- The lead product candidate in the Galectin-9 program is expected to enter clinical development in the Q1 of 2023.
- The lead candidates from the CXCR5 and CCR8 programs will enter the clinic by mid-2023.
- Price Action: FGEN shares closed at $25.84 on Wednesday.
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