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Highlights
- Percheron secures global rights for mid-stage cancer therapy HMBD-002
- Clinical trials planned for 2026 with advanced immuno-oncology focus
- Strategic pivot follows extensive search after prior asset setback
In a major development that marks a new chapter for Percheron Therapeutics (ASX:PER), the company has secured a worldwide exclusive license for HMBD-002, a novel monoclonal antibody therapy designed to target multiple cancer indications. This deal, struck with Singapore-based Hummingbird Bioscience, positions Percheron for renewed growth as it reorients its pipeline after earlier clinical trial challenges.
The agreement grants Percheron the rights to develop, manufacture, and commercialise HMBD-002 globally. In return, Hummingbird will receive an upfront payment of US$4.6 million, with additional potential milestone payments totaling up to US$443 million. Royalties on future net sales are also included in the deal terms.
Clinical momentum is already building. A Phase 1 study in patients with advanced cancer previously demonstrated that HMBD-002 is generally safe and well tolerated. Percheron now plans to launch a Phase II trial in 2026, testing the therapy as a standalone treatment or in combination with leading immuno-oncology agents such as pembrolizumab, nivolumab, or atezolizumab.
This strategic shift comes after Percheron concluded that its former lead asset, avicursen—developed for Duchenne muscular dystrophy—was no longer a viable centerpiece for its drug pipeline. A negative trial outcome last December prompted the board to reassess its long-term direction. According to CEO Dr James Garner, the company reviewed over 100 candidates across 70+ companies in just six months before selecting HMBD-002, citing its promising mechanism of action and advanced development status.
The partnership also reflects a mutual shift in focus, as Hummingbird prioritises other assets like HMBD-001 targeting HER3 and its cutting-edge antibody-drug conjugate platforms in inflammation and immunity.
For investors keeping an eye on emerging biotechs and ASX200 stocks, this pivot by Percheron presents a compelling story of strategic transformation and asset optimisation. Although Percheron is not currently listed in the ASX200, its latest move signals a serious intent to position itself among the ranks of influential growth-stage healthcare players in the region.
The move is described internally as a “transformative step,” and indeed it may well mark the beginning of a high-impact new chapter in the oncology space for Percheron and patients alike.
