On July 22, 2025, Novatim lmmune Therapeutics (Zhejiang) Co., Ltd. (hereinafter referred toas “Novatim") announced that it has entered into a strategic partnership with U.S.-based biotechnology company ERIGEN LLC to develop KQ-2003 - a first in class, BCMA/CD19 dual-target CAR-T cell therapy independently developed by Novatim. KQ-2003 is currently undergoing a Phase Ib clinical trial in China. ERIGEN gains global rights excluding Greater China/India/Turkey and Russia to exclusively develop, register, and commercialize the product.
Additionally, the agreement grants ERIGEN rights to use the key patent structure and sequence of KQ-2003 for the development of a universal CAR-T cell therapy. Under the terms of the agreement, Novatim retains full rights to the universal product in Greater China, laying the foundation for subsequent joint development and regional commercialization.
According to the deal terms, Novatim will receive a near-term development milestone payment of USD 15 million, and will be eligible to receive up to USD 1.32 billion in development, regulatory, and commercial milestone payments. Furthermore, Novatim will be entitled to up to USD 800 million in tiered sales-based royalties based on net sales of KQ-2003 in the licensed territories.
Dr. Guoxiang Wu, Chairman and General Manager of Novatim, stated:
“KQ-2003 is the flagship asset of Novatim’s CAR-T platform. Its differentiated structural design effectively addresses the challenges of relapse and suboptimal efficacy in certain hematologic malignancies. This partnership affirms the technological innovation and clinical value of our pipeline. Together with ERIGEN LLC, we aim to deliver accessible and affordable cell therapies to patients worldwide.”
Dr. Matt Angel, CEO of ERIGEN LLC, commented:
“KQ-2003 has demonstrated highly promising efficacy signals in ongoing clinical studies. Its parallel dual-target design offers significant advantages in mitigating relapse risk and overcoming efficacy heterogeneity, filling key gaps in existing CAR-T therapies. Leveraging our deep experience in universal CAR-T development and commercialization, along with strategic support from leading global investors, we will rapidly advance multicenter clinical trials for KQ-2003 outside Greater China and simultaneously initiate development of the next-generation universal CAR-T to bring more accessible and innovative cell therapy options to patients with cancer and autoimmune diseases worldwide.”
About KQ-2003
KQ-2003 is a next-generation dual-target CAR-T cell therapy developed based on Novatim’s enhanced CAR-T platform. Through parallel structural design and optimized signaling domains, KQ-2003 significantly improves CAR-T cell persistence and anti-tumor activity while reducing relapse risks seen in traditional CAR-T therapies. Its core advantages include: outstanding efficacy, superior safety profile, and cost competitiveness. It has achieved promising efficacy and superior safety profile in Phase I trials for relapsed/refractory multiple myeloma (rrMM) and POEMS syndrome.
About Novatim Immune Therapeutics (Zhejiang) Co., Ltd.
Founded in 2018, Novatim is a biotechnology company dedicated to the development and clinical application of innovative immuno-oncology therapeutics. Based on unmet clinical needs and differentiated innovation, Novatim has built three core R&D platforms: Bispecific Antibody Platform，Nanobody-based ADC Platform，Enhanced Dual-target CAR-T Platform.
The company has independently developed more than ten novel and differentiated FIC/BIC pipelines from scratch. Based on the bispecific antibody platform, Novatim developed China's first βγ-biased PD-1/IL-2 fusion protein, now in Phase Ib trials in China with IND clearance in both China and the U.S.; Based on the nanobody-ADC platform, Novatim developed the world's first nanobody-based bispecific ADC, currently in Phase Ia in China and IND-cleared in the U.S.; Based on its dual-target CAR-T platform, Novatim developed the world's first enhanced parallel dual-target CAR-T, now in Phase I/IIa clinical trials.
About ERIGEN LLC
ERIGEN LLC is an affiliate of Factor Bioscience, and will lead the development and commercialization of KQ-2003 in territories outside Greater China under this partnership. Factor Bioscience is a global biotechnology innovator specializing in gene editing and cell therapy. Its core proprietary technology is the mRNA Cell Programming Platform, which integrates non-viral CRISPR delivery, cell reprogramming, and mRNA expression modulation, offering high scalability and tissue specificity.
Leveraging this platform, Factor has established a differentiated pipeline of over ten programs targeting genetic diseases and cancers, with multiple programs in IND-enabling or clinical stages. Its non-viral CRISPR/mRNA delivery system is among the most advanced globally, with multiple international patents granted. Factor is committed to delivering innovative solutions for major unmet medical needs through programmable gene and cell therapy technologies.
