Biotechnology company Alligator Bioscience (Nasdaq Stockholm:ATORX) announced Tuesday that it has entered into a license agreement for an antibody from ALLIGATOR-GOLD for up to three bispecific molecules with Chinese biotechnology company Biotheus Inc.

Based in Zhuhai, Guangdong, China, Biotheus has received the rights in Greater China, including Republic of China, Hongkong, Taiwan and Macau, to an antibody from Alligator Bioscience' ALLIGATOR-GOLD for the creation of up to three bispecific molecules, with focus on immuno-oncology and metabolic disease area.

The agreement includes an option to Biotheus Inc for expanding the antibody license to global rights.

Under the license agreement, Alligator receives USD0.5m upon signing and USD0.5m after six months of scientific-technical evaluation.

In conjunction with the agreement Alligator is eligible to receive up to a total of approximately USD142m in upfront and development milestones payments, global option fees as well as royalties on future sales and share of sub-license revenue.