Singapore, Oct. 26 -- Kaigene, Inc., a US-based biotechnology company developing antibody medicines for autoimmune diseases, has announced an exclusive worldwide licensing agreement with South Korea-based Celltrion Inc. for KG013, its next-generation monoclonal antibody targeting A Proliferation-Inducing Ligand (APRIL).

Under the agreement, Kaigene grants Celltrion exclusive worldwide rights to develop and commercialize KG013. Kaigene is eligible to receive up to $580.5 million (approximately KRW 769 billion) in total consideration comprising an upfront payment and development, regulatory and commercialization milestone payments, with milestone payments contingent on achieving the relevant objectives.

Royalties on net sales are payable ...