Otsuka Pharmaceutical Announces Global Strategic Collaboration With Harbour BioMed

Palo Alto – June 23, 2025 – Cooley advised Otsuka Pharmaceutical, a total healthcare company focused on each individual’s potential to enhance their well-being, on its global strategic collaboration with Harbour BioMed to advance BCMAxCD3 bispecific T-cell engagers for treating autoimmune diseases.

Under the agreement, Otsuka is granted an exclusive license to develop, manufacture and commercialize HBM7020, a BCMAxCD3 bispecific T-cell engager, globally, excluding Greater China. Harbour BioMed will receive $47 million in upfront and near-term payments and is eligible for additional development and commercial milestone payments, as well as tiered royalties on future net sales. Otsuka will fund all future development.

Lawyers Jennifer Raab and Alison Freeman-Gleason led the Cooley team advising Otsuka.

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