Dianthus Therapeutics enters license agreement with Leads Biolabs

17 October 2025

US clinical-stage autoimmune diseases focused biotech Dianthus Therapeutics (Nasdaq: DNTH) revealed it has entered into an exclusive licensing agreement with China’s Nanjing Leads Biolabs (HK: 9887) for DNTH212 (being developed in China by Leads Biolabs as LBL-047), a first and potentially best-in-class bifunctional BDCA2 and BAFF/APRIL inhibitor.

Under the terms of the agreement, Dianthus - which came out of stealth in 2022 with $100 million financing - will pay Leads Biolabs up to $38 million, comprised of $30 million in upfront and near-term milestone payments plus an additional $8 million milestone upon the initiation of a Dianthus-led Phase I study, for exclusive rights to develop and commercialize DNTH212 globally outside of Greater China.

Financial terms

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