September 27 , 2025 — Novatim Immune Therapeutics (Zhejiang) Co., Ltd. (“Novatim”) today announced a strategic collaboration with VRise Therapeutics, Inc. (“VRise”), under which the parties signed an exclusive license agreement for India covering Novatim’s KQ-2003, a parallel dual-target (BCMA/CD19) CAR-T therapy. The agreement grants VRise exclusive rights to develop, register, and commercialize KQ-2003 in India. In addition to relapsed/refractory multiple myeloma, VRise plans to evaluate KQ-2003 in autoimmune diseases in India, subject to regulatory approvals.
Financial terms
Novatim will receive an upfront payment and is eligible for development, regulatory, and commercial milestones. Novatim will also receive tiered royalties on net sales in India, from high single-digit to double-digit percentages.
Strategic rationale
KQ-2003 is currently in Phase I/IIa clinical trials in China. Previously, Erigen LLC (USA) obtained exclusive rights to develop and commercialize KQ-2003 outside of Greater China (excluding India, Turkey, and Russia). The new agreement with VRise further validates the global potential and market value of KQ-2003. Leveraging India’s clinical infrastructure and potential for expedited pathways, KQ-2003 could reach patients in India earlier, providing a new treatment option while accelerating Novatim’s path to value creation.
About KQ-2003
KQ-2003 is an innovative, parallel dual-target (BCMA/CD19) CAR-T developed on Novatim’s enhanced dual-target CAR-T platform. Through parallel architecture and optimized signaling domains, KQ-2003 is designed to improve persistence and anti-tumor activity and to mitigate relapse versus conventional CAR-T approaches. Early data indicate robust efficacy, a favorable safety profile, and potential cost advantages. KQ-2003 is being evaluated in relapsed/refractory multiple myeloma (rrMM) and POEMS syndrome in registration-directed clinical settings.
About Novatim
Founded in 2018, Novatim Immune Therapeutics (Zhejiang) Co., Ltd. is a biopharmaceutical company focused on innovative oncology immunotherapies. Centered on unmet clinical needs, Novatim has built three core platforms—bifunctional antibodies, nano-bispecific ADCs, and enhanced dual-target CAR-T—and advanced 10+ first-in-class/best-in-class programs. Representative assets include China’s first βγ-biased PD-1/IL-2 fusion protein, a first-in-class nano-bispecific ADC, and parallel dual-target CAR-T.
About VRise Therapeutics
Founded in 2021, VRise Therapeutics, Inc. is an innovation led biotechnology company committed to delivering breakthrough oncology treatments. Its leadership team has held key roles in the discovery and clinical development of multiple first-in-class oncology medicines, spanning discovery through registration and commercialization. VRise is supported by a scientific advisory board of leading oncology experts and an international network of partners to advance global R&D and clinical programs.
