Percheron Therapeutics (ASX: PER) has secured a worldwide exclusive licence from Singapore-based Hummingbird Bioscience for its HMBD-002 monoclonal antibody therapy, targeting a range of cancer indications. Percheron is a biopharmaceutical company focused on developing and commercialising innovative therapies to address unmet medical needs. The company specialises in identifying and advancing promising drug candidates.
Under the agreement, Percheron will make an upfront payment of $4.6 million to Hummingbird. Additional milestone payments could reach up to $443 million, along with royalties on net sales of the commercial product. Percheron will assume responsibility for developing, manufacturing, and commercialising HMBD-002, with plans to initiate a clinical trial next year. Hummingbird will also supply a batch of HMBD-002 for Percheron’s use in future clinical trials at no additional cost.
Dr James Garner, Percheron’s chief executive, described the agreement as a “transformative step” for the company. He highlighted Hummingbird’s expertise in novel drug design and expressed enthusiasm for partnering on this promising drug candidate. Phase 1 clinical trials have indicated that HMBD-002 is generally safe and well-tolerated in patients with advanced cancer, conducted under an open investigational new drug (IND) application with the US Food and Drug Administration.
Percheron intends to commence a Phase II clinical trial for HMBD-002 in 2026, exploring its potential as a standalone treatment or in combination with immuno-oncology therapies. This acquisition follows Percheron’s search for a new asset after a negative trial read-out in December for avicursen. Dr Garner noted that the board deemed a pipeline centred on avicursen as unlikely to appeal to investors, leading to the evaluation of over 100 drug candidates before selecting HMBD-002 for its compelling mechanism of action and mid-clinical-stage status.
