[Alpha Biz= Kim Jisun] HanAll Biopharma announced on Thursday that it has submitted a counterclaim in the International Chamber of Commerce (ICC) arbitration to terminate its license agreement with Harbour BioMed in China regarding 'HL161' (batoclimab). Batoclimab is an investigational treatment for autoimmune diseases developed by HanAll Biopharma.
A HanAll Biopharma representative stated, "We have submitted our response to the ICC arbitration against Harbour BioMed, as disclosed on the 18th, and at the same time, we have filed a counterclaim to lawfully terminate the relevant license agreement and reclaim the rights to the related business in Greater China."
HanAll Biopharma plans to terminate the license agreement and reclaim business rights in the Greater China region from Harbour BioMed. The company also emphasized that it aims to ensure that clinical development, regulatory approvals, and commercialization of the technology in China proceed without delays.
The company representative added, "The additional application, response, and counterclaim are follow-up actions to the arbitration disclosed on the 18th, seeking contract termination. This is not a new arbitration procedure and is unrelated to the efficacy or safety of batoclimab."
The license agreement between HanAll Biopharma and Harbour BioMed will remain in effect until the arbitration process concludes. Meanwhile, the ongoing regulatory approval process for myasthenia gravis (MG) will continue as planned.
Previously, on the 18th, HanAll Biopharma announced that it had notified Harbour BioMed of the termination of the license agreement for batoclimab, leading to the initiation of ICC arbitration. In 2017, HanAll Biopharma entered into a license agreement with Harbour BioMed, granting exclusive development and commercialization rights for batoclimab in Greater China, including Taiwan, Hong Kong, and Macau.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
