Laekna, Inc. Enters Exclusive License Agreement with Vasque Bio for LAE118 in Ex-China Regions
Key Developments and Strategic Impact for Investors
Laekna, Inc. (Stock Code: 2105) has made a significant announcement that could have substantial implications for its future growth and shareholder value. On 9 June 2026, the company entered into an exclusive licensing agreement with the U.S.-based clinical-stage biotechnology company Vasque Bio, Inc. for its novel PI3Kαpan-mutant selective inhibitor, LAE118, outside of China (excluding Mainland China, Hong Kong, Macau, and Taiwan).
Key Points of the License Agreement
- Exclusive Rights: Vasque Bio is granted exclusive, worldwide rights (excluding Greater China) to develop, manufacture, commercialize, and exploit LAE118, a drug candidate discovered internally by Laekna.
- Upfront and Equity Payment: Laekna will receive a non-refundable and non-creditable upfront cash payment of USD 10 million. Additionally, Laekna has the right to acquire, at no extra cost, up to a high-teen percentage of Vasque Bio’s outstanding common stock or opt for cash payments in lieu of equity.
- Milestone Payments: The agreement entitles Laekna to receive up to USD 517 million in development and sales milestone payments.
- Royalties: Laekna will receive tiered royalty payments ranging from single-digit to double-digit percentages on future net sales of LAE118 in the licensed territories.
- Strategic Transaction Clause: Should Vasque Bio enter a qualifying strategic partnership or acquisition related to LAE118, Laekna is entitled to receive up to 50% of the value of such strategic transactions.
Strategic and Financial Significance
- Financial Strengthening: The upfront and potential milestone payments will significantly bolster Laekna’s financial position, providing resources for future development and strategic initiatives.
- Broader Market Access and Value Creation: By partnering with Vasque Bio, which specializes in therapeutics for rare diseases, Laekna can accelerate the global development and commercialization of LAE118 across a wider range of indications, increasing the asset’s value and market potential.
- Retaining Upside Exposure: The right to receive Vasque Bio’s common stock allows Laekna to maintain economic exposure to any future upside from LAE118’s success.
- Active Partnership Strategy: Laekna is currently in discussions with multiple partners to further accelerate the clinical development and commercialization of its drug candidates, indicating a proactive approach to maximize asset value.
Product and Partner Background
- About LAE118: LAE118 is a novel, internally developed PI3Kαpan-mutant selective inhibitor. It has received Investigational New Drug (IND) approval from both the U.S. FDA and China’s National Medical Products Administration (NMPA), and is being advanced into clinical studies targeting PIK3CA-mutant solid tumors.
- About Vasque Bio: Vasque Bio is a U.S.-based, clinical-stage biotech company dedicated to developing therapies for serious, life-altering rare diseases, with support from prominent life science investors such as The Column Group and F-Prime.
Shareholder Considerations and Potential Share Price Impact
- Material and Potentially Price-Sensitive Information:
- The scale of the deal, including the upfront USD 10 million payment, potential USD 517 million in milestone payments, and substantial royalties and equity upside, is significant for a biotech in Laekna’s stage of development.
- The deal strengthens Laekna’s balance sheet and opens up new strategic options, which could be viewed positively by investors and potentially move the share price.
- The company reiterates ongoing strategic partnership discussions, which could lead to further value-creating transactions.
- Risk Warning: The company cautions that LAE118 may ultimately not be successfully developed or commercialized, which could impact the realisation of the anticipated financial benefits.
- Regulatory Note: Vasque Bio is independent and not a connected person under Hong Kong listing rules, and the transaction does not constitute a notifiable or connected transaction.
Board Composition
The current board includes Dr. LU Chris Xiangyang (Chairman), Ms. XIE Ling, Dr. GU Xiang-Ju Justin (executive directors), Dr. WANG David Guowei, Mr. SUN Yuan (non-executive directors), and Dr. YIN Xudong, Dr. LI Min, Mr. ZHOU Jian (independent non-executive directors).
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Past performance and future projections are subject to risks and uncertainties. Investors should exercise caution and consult with their financial advisors before making investment decisions. Laekna, Inc. has explicitly warned that LAE118 may not be successfully developed or commercialized, which could impact expected returns.
Laekna, Inc. 與 Vasque Bio 簽訂 LAE118 海外地區（中國除外）獨家授權協議
重點內容及對投資者的潛在影響
Laekna, Inc.（股份代號：2105）於2026年6月9日宣佈，已與美國臨床階段生物科技公司 Vasque Bio, Inc. 簽訂一份有關公司自主研發新藥 LAE118（PI3Kαpan-mutant 選擇性抑制劑）於中國大陸、香港、澳門及台灣以外地區的獨家授權協議，這對公司未來發展及股東價值具有重大潛在影響。
協議主要條款
- 授權範圍： Vasque Bio 獲得 LAE118 在中國以外地區的開發、生產、商業化及其他相關專利權獨家權利。
- 預付款及股權： Laekna 可獲得1000萬美元不可退還、不可抵扣的現金預付款，同時有權以零對價方式獲得 Vasque Bio 高達十多個百分點的普通股股份或以現金代替股份。
- 里程碑付款： Laekna 有資格獲得總額高達5.17億美元的開發及銷售里程碑付款。
- 銷售分成： Laekna 將獲得 LAE118 未來於海外地區銷售的單位數至雙位數百分比的分級權利金。
- 戰略交易分成： 若 Vasque Bio 就 LAE118 與第三方達成戰略合作或被收購，Laekna 可獲得該交易價值最高 50% 的額外分成。
戰略與財務意義
- 財務實力提升： 預付款及潛在里程碑付款將大幅增強公司現金流，有助未來發展及戰略選擇。
- 全球市場與下游價值： 與專注於罕見病治療的 Vasque Bio 合作，有望加速 LAE118 在全球多適應症的開發及商業化，提升資產價值和市場潛力。
- 保留經濟上行空間： 透過持有 Vasque Bio 股份，Laekna 可繼續分享 LAE118 未來成功帶來的增值收益。
- 積極尋求合作： 公司正與多個潛在合作夥伴洽談，致力於以最佳方式推進藥物資產臨床和商業化，釋放最大價值。
產品與合作方背景
- 關於 LAE118： LAE118 為公司自主開發的新型 PI3Kαpan-mutant 選擇性抑制劑，已獲美國 FDA 及中國藥監局臨床試驗批件，正推進臨床試驗，針對 PIK3CA 突變型實體腫瘤。
- 關於 Vasque Bio： Vasque Bio 是美國臨床階段生物科技公司，專注於罕見病治療，獲得 The Column Group 及 F-Prime 等著名生命科學投資機構支持。
股東應注意及可能影響股價事項
- 重大及可能具價格敏感性信息：
- 預付款、潛在高額里程碑及權利金規模，對公司現階段具有重要財務及戰略意義，或將正面影響市場評價和股價。
- 公司資金實力提升及多元化戰略選擇，或被市場視為正面因素。
- 公司正積極推進後續合作，或帶來更多價值釋放機會。
- 風險提示： 公司提醒 LAE118 最終可能未能成功研發及商業化，相關預期利益具有不確定性。
- 監管說明： Vasque Bio 為獨立第三方，此交易不構成港交所通告須知會或關連交易。
董事會組成
現任董事會包括主席盧湘陽博士，執行董事謝玲女士、顧向炬博士，非執行董事王國偉博士、孫源先生，以及獨立非執行董事尹旭東博士、李敏博士、周健先生。
免責聲明
本文僅供參考，並不構成任何投資建議。過往表現及未來預期均存在風險及不確定性。投資者應審慎考慮，並諮詢專業財務顧問。Laekna, Inc. 已明確提示 LAE118 可能未能成功研發或商品化，相關收益或未能實現。
