Keymed Biosciences Inc. has announced an exclusive out-license agreement with Belenos Biosciences, Inc. for the global development, manufacture, and commercialization of their bispecific antibodies CM512 and CM536, excluding Greater China. The deal includes an upfront payment of $15 million to Keymed’s subsidiary, equity stake in Belenos, potential milestone payments up to $170 million, and tiered royalties on net sales. The collaboration aims to strengthen Keymed’s global network and maximize the value of its technology platforms, with Keymed’s chairman nominated to Belenos’ board.