VelaVigo bags second US out-licensing deal

21 April 2025

The US subsidiary of Chinese biotech VelaVigo Cayman Limited has announced its second out-licensing agreement of a first-in-class (FIC) asset, this time to US biotech start-up Ollin Biosciences, granting the latter an exclusive license to develop, manufacture and commercialize VBS-102, a first-in-class bispecific antibody, globally (excluding Greater China). VelaVigo will maintain rights for Greater China.

The deal provides VelaVigo with an upfront fee and future development, regulatory, and commercial milestone payments in cash and equity, totaling up to approximately $440 million in the aggregate, as well as tiered royalties on sales in Ollin's territory.

This milestone follows VelaVigo’s first licensing deal with Avenzo Therapeutics in November 2024 and the successful close of a $50 million Pre-A funding round in February 2025, reinforcing the company’s unique business model combining business development (BD) and venture capital (VC) strategies for sustainable growth.

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