Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”, HKEX: 02315)  announces an antibody evaluation and option agreement with Gilead Sciences, Inc. The agreement provides Gilead access to Biocytogen’s extensive fully human antibody library generated against a wide range of therapeutic targets. Over a three-year nomination period, Gilead will nominate targets of interest and evaluate the corresponding antibodies, with the option to acquire selected antibodies for worldwide therapeutic development.

Under the terms of the agreement, Biocytogen will receive a payment to enable Gilead’s evaluation of certain antibodies directed to a given nominated target. Biocytogen is eligible to receive option exercise fees along with development, regulatory and sales milestone payments for each selected antibody against the nominated targets, as well as single-digit royalties on net sales.

Dr. Yuelei Shen, President and CEO of Biocytogen, said, “We are thrilled to collaborate with Gilead, a partner renowned for their drug development and commercialization expertise. Our extensive library of RenMice^®-derived, fully human antibodies could serve as an important resource for Gilead to accelerate development of multiple novel antibody-based therapeutics to treat a variety of diseases. We are committed to supporting Gilead as well as our other partners in their drug development endeavors to benefit patients.”