On June 22, 2026, Antengene announced that its wholly owned subsidiary has entered into two collaboration agreements with K2 Therapeutics, securing global ex-Greater China exclusive licensing for two bispecific T-cell engager (TCE) programs targeting solid tumors. The combined potential value of the two assets approaches $2 billion, marking another milestone in the global expansion of Chinese-origin TCE technologies.

The collaboration includes two core programs. The first is ATG-106, a preclinical CDH6/CD3 bispecific TCE targeting solid tumors such as ovarian and renal cancers with high CDH6 expression. The second is an exclusive option granted to K2 Therapeutics to acquire global ex-Greater China rights to an additional undisclosed preclinical TCE candidate.

Under the financial terms, Antengene is eligible to receive approximately $20 million in upfront and near-term payments for ATG-106, including cash and minority equity in the collaboration entity. The program is further eligible for up to $960.5 million in development, regulatory, and commercial milestone payments. If K2 exercises the option for the second program, Antengene will receive an additional ~$20 million in upfront consideration, with a similar milestone structure of up to $960.5 million, along with tiered royalties on future net sales for both assets.

Both programs are built on Antengene’s proprietary AnTenGager® platform, a differentiated TCE technology designed to improve safety and efficacy in solid tumors. By combining steric masking with a fast-binding/fast-dissociation CD3 arm, the platform enables T-cell activation only in the presence of tumor-associated antigens, aiming to reduce cytokine release syndrome (CRS) and T-cell exhaustion while maintaining potent anti-tumor activity.

K2 Therapeutics, a biotech company incubated by the global investment firm MPM BioImpact, operates under a scalable open innovation model for drug discovery and development. The company highlighted CDH6 as a highly attractive therapeutic target in cancers such as ovarian and renal carcinoma and expressed strong confidence in advancing ATG-106 into clinical development.

Antengene’s Founder, Chairman, and CEO, Dr. Mei Jianming, noted that this partnership further expands the company’s global TCE strategy and validates the differentiated strength of the AnTenGager® platform in solid tumor applications.

This marks Antengene’s second major TCE out-licensing deal this year. In March, its CD19/CD3 autoimmune TCE ATG-201 was partnered with UCB in a deal with a potential value of up to $1.18 billion. Together, these transactions underscore growing global recognition of next-generation masked TCE technologies and position China’s bispecific T-cell engager innovation among the global leaders.