Hong Kong-listed drug design technology company Metis TechBio announced Tuesday that it has entered into a licensing agreement with U.S.-based biotechnology company Boulevard Bio, granting the American firm exclusive global rights to develop, manufacture, and bring to market its experimental autoimmune drug, MTS-128. The deal carries a potential total value of up to $1.6 billion.
The agreement represents a notable step forward in technology cooperation between the United States and China at a time when Beijing has been increasing its scrutiny of cross-border deals that involve sensitive technologies.
Under the terms of the agreement, Boulevard Bio will gain worldwide rights to develop, manufacture, and commercialize MTS-128. Metis TechBio stands to receive an initial upfront payment of $20 million, along with additional payments of up to $1.6 billion tied to development benchmarks, regulatory approvals, and commercial performance targets.
In a filing submitted to the Hong Kong stock exchange, Metis TechBio stated that the successful development of MTS-128 reflects the company’s ability to “deeply integrate artificial intelligence with protein drug design.” According to the company’s website, MTS-128 is intended for use in treating autoimmune conditions, though the company did not immediately respond to questions about which specific disease the drug targets.
The deal arrives amid a broader tightening of regulations in China surrounding U.S. investment in domestic companies working on cutting-edge technologies. Earlier this year, China directed U.S. tech giant Meta to reverse its acquisition of AI startup Manus, a deal valued at more than $2 billion.
