Percheron Licenses HMBD-002 with US$3M Upfront and US$287M Milestones
Percheron Therapeutics has licensed HMBD-002, a promising immuno-oncology monoclonal antibody targeting VISTA, from Hummingbird Bioscience, marking a strategic pivot after recent setbacks. The company plans to initiate phase II trials in 2026, aiming to advance this novel cancer therapy toward commercialisation.
- Exclusive worldwide license for HMBD-002 from Hummingbird Bioscience
- Upfront payment of US$3 million plus up to US$287 million in milestones and royalties
- HMBD-002 targets VISTA, a novel immune checkpoint in cancer therapy
- Completed phase I trial demonstrating safety and pharmacological activity
- Phase II clinical trials planned for 2026 with potential for combination therapies
A Strategic New Chapter for Percheron
Percheron Therapeutics Limited has taken a decisive step to reshape its clinical pipeline by licensing HMBD-002, a phase II-ready immuno-oncology drug candidate, from Singapore-based Hummingbird Bioscience. This move comes after Percheron’s recent setback with its Duchenne muscular dystrophy asset, avicursen, and signals a renewed focus on oncology, a field with significant unmet medical needs.
HMBD-002 is a monoclonal antibody designed to target VISTA, an immune checkpoint regulator that suppresses T-cell activation. Unlike established checkpoint inhibitors that focus on PD-1 or CTLA-4 pathways, VISTA represents a novel mechanism to potentially overcome tumour immune evasion, offering hope for cancers resistant to current therapies.
Clinical Progress and Development Plans
The drug has already completed a phase I clinical trial in the United States, conducted at prestigious institutions such as MD Anderson Cancer Center and Stanford Cancer Institute. The trial demonstrated that HMBD-002 is pharmacologically active, generally safe, and well-tolerated, providing a solid foundation for further development.
Percheron plans to initiate phase II clinical trials in calendar year 2026. The company is currently engaging with clinicians and regulatory bodies to define the optimal clinical development strategy, including exploring HMBD-002 as a monotherapy or in combination with existing immunotherapies like Keytruda or Opdivo. Preclinical data suggest potential synergistic effects, which could enhance therapeutic outcomes.
Deal Terms and Strategic Implications
The licensing agreement includes an upfront payment of US$3 million to Hummingbird, with contingent milestone payments that could total up to US$287 million, alongside tiered royalties starting at 12.5% on net sales. Hummingbird will also provide technical support and drug substance batches for upcoming trials, ensuring a smooth transition.
This deal not only provides Percheron with a promising mid-stage asset but also aligns with its strategy to rebuild investor confidence and expand its oncology portfolio. Hummingbird, meanwhile, is refocusing on other pipeline programs, including HMBD-001 and antibody-drug conjugates targeting inflammation and immunity.
Looking Ahead
With the transfer of HMBD-002 underway, Percheron is poised to re-enter the clinic and potentially redefine its market position. The company’s ability to navigate clinical, regulatory, and commercial milestones will be critical in the coming years, as will its capacity to secure funding and partnerships to support development.
As immuno-oncology continues to evolve rapidly, targeting novel checkpoints like VISTA could open new frontiers in cancer treatment. Percheron’s move reflects both the challenges and opportunities inherent in biotech innovation, where strategic licensing can accelerate access to cutting-edge therapies.
Bottom Line?
Percheron’s licensing of HMBD-002 marks a pivotal shift, setting the stage for a critical phase II push that could reshape its future in oncology.
Questions in the middle?
- Which cancer indications will Percheron prioritise for HMBD-002’s phase II trials?
- How will Percheron finance the costly clinical development ahead amid market uncertainties?
- What competitive advantages will HMBD-002 hold against emerging VISTA-targeting therapies?
