Milestone exceeds 10% of last year's revenue... separate from the technology fee disclosed in June
AimedBio acts as the Phase 1 trial sponsor in research collaboration with Boehringer Ingelheim
AimedBio is set to receive a subsequent milestone payment from Boehringer Ingelheim. The payment condition was met as the first patient dosing was administered in the Phase 1 clinical trial for 'ODS025', an antibody-drug conjugate (ADC) candidate previously out-licensed to the German pharmaceutical firm. This payment is separate from the technology fee disclosed last June.
AimedBio announced on the 27th that it expects to receive a milestone payment under the ODS025 out-licensing agreement. The billed amount exceeds 10% of the company's consolidated operating revenue of approximately 47.3 billion won recorded last year. The exact figure was withheld in accordance with confidentiality clauses in the contract.
The company stated that the first patient dosing for the Phase 1 trial, being conducted under the development code 'BI 4060107', took place today. This administration successfully satisfied the development milestone requirements stipulated in the agreement.
Previously, the company disclosed on June 26 that it expected to receive a milestone payment tied to the U.S. Phase 1 Investigational New Drug (IND) application approval.
According to the company, its first-half earnings reflected milestones related to ODS025 as well as joint development costs for AMB303, which is being co-developed with SK Plasma. First-half consolidated revenue stood at 28.7 billion won, with an operating profit of 4.6 billion won. Second-quarter revenue surged 166% year-on-year to 20.2 billion won.
This staged payment structure stems from the global out-licensing agreement signed on October 15 of last year. Under the deal, Boehringer Ingelheim secured global development and commercialization rights for the candidate substance. AimedBio stands to receive up to $991 million in total upfront payments, alongside development, regulatory, and commercialization milestones, plus separate royalties based on net sales.
According to clinical trial registries, AimedBio is listed as the sponsor of the current Phase 1 trial, with Boehringer Ingelheim participating as a collaborator.
BI 4060107 is designed to target a specific protein heavily expressed across various cancer types, which is linked to tumor growth, metastasis, and treatment resistance. The exact target has not been publicly disclosed. The clinical trial is evaluating the safety, tolerability, and optimal dosing of the drug through a dose-escalation design in patients with unresectable, advanced, or metastatic solid tumors.
