Shanghai-based Excalipoint secures rights to two preclinical T-cell engagers from Lepu Biopharma, aiming to fast-track development for solid tumors and hematologic malignancies.
Asia-Pacific Licensing Surge
On December 17, 2024, Lepu Biopharma Co. Ltd. announced the out-licensing of two preclinical T-cell engager programs to newly formed Shanghai biotech Excalipoint Therapeutics in a deal valued at up to $857.5 million, including upfront payments, milestones, and equity interest. The agreement marks one of the largest immuno-oncology licensing deals in China this year and signals growing momentum in the region’s cell engager space.
The assets—LPB-TCE01 and LPB-TCE02—target undisclosed tumor antigens and are designed using Lepu’s proprietary bispecific antibody scaffold optimized for stability and manufacturability. Excalipoint will assume full development and commercialization rights in Greater China, with global co-development options under discussion.
Dr. Yifan Zhou, CEO of Excalipoint, stated:
T-Cell Engagers: A Rising Modality
T-cell engagers (TCEs) are bispecific antibodies that link tumor cells to cytotoxic T cells, triggering immune-mediated killing. While approved TCEs like Amgen’s Blincyto have shown success in hematologic cancers, solid tumors remain a challenge due to antigen heterogeneity and immune suppression.
Lepu’s candidates incorporate novel linker chemistry and Fc silencing to reduce cytokine release syndrome and improve tumor penetration. Preclinical data presented at the 2024 ESMO Asia Congress showed LPB-TCE01 induced complete tumor regression in murine models of gastric cancer, with favorable safety margins.
Excalipoint plans to file INDs for both programs in mid-2025, targeting hepatocellular carcinoma and triple-negative breast cancer.
Strategic Implications and Global Reach
The deal reflects a broader trend of Chinese biotechs leveraging regional innovation for global expansion. Excalipoint, backed by Qiming Venture Partners and Hillhouse Capital, aims to build a portfolio of immune-modulating biologics with dual-market strategies.
Lepu retains ex-China rights and is reportedly in talks with U.S. and EU partners for co-development. The company also plans to expand its TCE platform to include trispecific constructs and tumor microenvironment modifiers.
Analysts view the deal as a signal that China’s immuno-oncology sector is maturing, with increasing emphasis on platform quality, regulatory readiness, and global clinical ambitions.
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