August 29, 2025 — Novatim Immune Therapeutics (Zhejiang) Co., Ltd. (“Novatim”) today announced an exclusive licensing agreement with Radiance Biopharma (“Radiance”). Under the agreement, Novatim grants Radiance the rights to develop, register and commercialize KY-0301—the world’s first nanobody bispecific ADC—outside Greater China.
Under the terms of the agreement, Novatim will receive an upfront payment of USD $15 million, up to USD $150 million in potential development and regulatory milestone payments, and over USD $1 billion in potential commercial milestone payments. Novatim is also eligible to receive tiered royalties based on annual net sales in the licensed territory.
“KY-0301, a first-in-class nanobody bispecific ADC, has shown encouraging signals of efficacy and safety in the clinic,” said Dr. Guoxiang Wu, MD, Founder and Chairman of Novatim. “Partnering with Radiance enables us to accelerate KY-0301’s global clinical development and commercialization, bringing an innovative and superior treatment option to cancer patients more quickly.”
“We are delighted to add KY-0301 (RB-601) to our clinical portfolio,” said Dr. Marc Lippman, MD, Chairman of the Board of Radiance. “Our next step is to rapidly advance global, multi-center clinical trials to bring a new treatment choice to patients.”
About KY-0301
KY-0301 is the world’s first nanobody bispecific ADC independently developed by Novatim. It received U.S. IND approval in 2024 and is currently in a Phase I dose-escalation study in China. Compared with traditional bispecific ADCs, KY-0301 demonstrates enhanced tumor tissue penetration, higher antitumor activity, and a favorable safety profile. Leveraging broad and differentiated expression of MET and EGFR across solid tumors, KY-0301 has the potential to deliver breakthroughs in non-small cell lung cancer, colorectal cancer, and head and neck squamous cell carcinoma.
About Novatim
Founded in 2018, Novatim Immune Therapeutics (Zhejiang) Co., Ltd. is a biotechnology company focused on innovative immuno-oncology drugs and clinical translation. Centered on unmet clinical needs and differentiated R&D, Novatim has built three core technology platforms: a bi-functional antibody platform, a nanobody bispecific ADC platform, and an enhanced dual-target CAR-T platform, with over ten internally discovered, potentially FIC/BIC programs. Representative assets include China’s first βγ-biased PD-1/IL-2 fusion protein, the world’s first nanobody bispecific ADC, and a parallel enhanced dual-target CAR-T.
About Radiance Biopharma
Headquartered in Boston, Massachusetts, Radiance Biopharma develops innovative oncology pipelines, including monospecific and bispecific ADCs, to address major unmet medical needs. Radiance’s Chairman and Co-Founder, Dr. Marc Lippman, is an internationally renowned oncologist and a founding board member of Seagen (now part of Pfizer).
