Duality Biotherapeutics Files for Hong Kong IPO, Expanding ADC Therapeutics Portfolio

IPO Filing:
Duality Biotherapeutics, a clinical-stage biotech company specializing in antibody-drug conjugate (ADC) therapeutics, has filed for an initial public offering (IPO) in Hong Kong.

Partnerships:
The company has significant partnerships with BioNTech and BeiGene, with current deals valued at over $4 billion.

ADC Assets:
Duality Biotherapeutics has licensed two ADC assets, DB-1303 and DB-1311, to BioNTech for global development and commercialization, excluding Mainland China, Hong Kong, and Macau.

Financial Terms:
The partnership with BioNTech includes upfront payments of $170 million and potential milestone payments of over $1.5 billion, along with tiered royalties on net sales.

Therapeutic Focus:
The company's ADC therapeutics aim to treat various cancers and autoimmune diseases, with DB-1303 and DB-1311 showing promising preclinical and clinical data.