CBT Pharma, a California-China spin-out from Crown Bioscience (TWSE: 6554), in-licensed global rights to a CTLA-4 checkpoint inhibitor from CrownBio in a deal worth $46 million of milestones plus unspecified royalties. In 2016, CBT was spun out of CrownBio with four oncology candidates and $5 million in startup cash and then, later in the year, completed a $9.7 million Series A round led by Orbimed Asia. According to CBT, the CTLA-4 molecule is its third checkpoint inhibitor and complements its PD-1 and PD-L1 inhibitors. More details....
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Original Article: CBT Acquires Global Rights to CTLA-4 Checkpoint Inhibitor in $46 Million Deal