Hummingbird licenses antibody in deal worth up to $290 million

26 June 2025

Singapore-based biotech Hummingbird Bioscience has out-licensed its lead immunotherapy candidate, HMBD-002, to Australian drug developer Percheron Therapeutics (ASX: PER) in a deal valued at up to $290 million.

Under the terms of the global agreement announced June 26, Percheron will gain exclusive rights to develop, manufacture and commercialize the experimental antibody across all territories and indications. Hummingbird stands to receive an undisclosed upfront fee, development and commercial milestone payments, and tiered royalties on future net sales.

The move marks a significant step for Hummingbird, which earlier this year transferred one of its oncology programs to spinout Callio Therapeutics - an initiative backed by Frazier Life Sciences. While the newly-formed Callio focuses on dual-payload antibody-drug conjugates (ADCs), Hummingbird is continuing to strike licensing deals for its in-house innovations.

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