Hummingbird Bioscience Licenses HMBD-002, Phase II-Ready Anti-VISTA Monoclonal Antibody to Percheron Therapeutics
Percheron Therapeutics obtains exclusive worldwide rights to Hummingbird Bioscience's anti-VISTA mAb for further clinical development
Hummingbird Bioscience stands to receive up to USD 290 million in upfront and milestone payments, plus royalties, from Percheron Therapeutics
Percheron Therapeutics aims to commence phase II clinical development of HMBD-002 in CY2026
SINGAPORE, June 26, 2025 (GLOBE NEWSWIRE) — Hummingbird Bioscience, a biotherapeutics company discovering and developing transformative medicines for hard-to-treat diseases, today announced that it has granted Percheron Therapeutics Limited (ASX: PER) an exclusive worldwide license to develop, manufacture, and commercialize HMBD-002 in all territories and indications. Under the terms of the agreement, Hummingbird Bioscience will be eligible to receive up to USD 290 million in upfront and milestone payments, plus royalties on net sales.
HMBD-002 is a monoclonal antibody therapy targeting VISTA, a novel checkpoint involved in the body's immune response to cancer. HMBD-002 has successfully completed a phase I clinical trial in the United States, under an Investigational New Drug application with the US Food and Drug Administration, which showed the drug to be pharmacologically active and generally safe and well-tolerated. Percheron Therapeutics aims to continue clinical development of HMBD-002 in CY2026.
'Given the potential benefits of VISTA blockade in multiple cancers that have strong evidence of VISTA-mediated immune suppression, HMBD-002 is a scientifically compelling asset for both monotherapy and combination approaches. We are pleased to have Percheron Therapeutics continue the clinical development of HMBD-002,' said Piers Ingram, PhD, co-founder and Chief Executive Officer of Hummingbird Bioscience. 'We have confidence in the potential clinical benefit of HMBD-002 and in Percheron's ability to successfully progress HMBD-002 through the clinic.'
'Hummingbird Bioscience lies at the cutting edge of novel drug design, and we are delighted to partner with them to take forward this very promising drug candidate,' said Dr. James Garner, Chief Executive Officer of Percheron Therapeutics. 'We selected HMBD-002 out of more than a hundred individual drug candidates from more than seventy companies, and we very much hope that this exciting program can bring meaningful benefit to patients confronting the enormous challenge of a cancer diagnosis.'
About HMBD-002
HMBD-002 is a novel anti-VISTA neutralizing antibody, and the only IgG4 isotype anti-VISTA antibody currently in development. HMBD-002 was engineered to bind to VISTA at a specific site that is predicted to be essential for ligand binding and function, thus inhibiting VISTA and neutralizing its immunosuppressive activity without depleting VISTA-expressing cells that play many important roles in the immune system.
About Hummingbird Bioscience
Hummingbird Bioscience is a biotherapeutics company working at the interface of artificial intelligence and human innovation to discover and develop transformative medicines for hard-to-treat diseases. Hummingbird Bioscience's computational and systems biology technologies have generated a pipeline of innovative clinical-stage monoclonal antibodies and antibody-drug conjugates in oncology and autoimmunity. At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. For more information, please visit www.hummingbirdbioscience.com, and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.
About Percheron Therapeutics Limited
Percheron Therapeutics Limited [ASX: PER | US OTC: PERCF] is a publicly listed biotechnology company focused on the development and commercialization of novel therapies for oncology and rare diseases. The company's lead program is HMBD-002, a monoclonal antibody targeting the immune checkpoint regulator, VISTA. HMBD-002 has completed a phase I clinical trial in patients with advanced cancer, which has shown the drug to be generally safe and well-tolerated. For more information, please contact [email protected].
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Ahmedabad Plane Crash
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
GENIUS Act Supporting Stablecoins Offer Opportunity During Instability
11 July 2022, Baden-Wuerttemberg, Rottweil: The logo of the stablecoins Tether USDT and USD Cohn ... More USDC can be seen on the screen of a computer in an office. Photo: Silas Stein/dpa (Photo by Silas Stein/picture alliance via Getty Images) dpa/picture alliance via Getty Images The U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins ('GENIUS') Act in June 2025, regulating stablecoins and the Act is now headed to the House of Representatives to be reconciled with the House's Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act. GENIUS represents a landmark milestone not only for the cryptocurrency industry, but also for the U.S. tax system. While the GENIUS Act establishes a tight regulatory framework for a novel use of digital currency in the U.S. market and it is backed by the U.S. dollar, enforcement will be challenging. The act establishes significant penalties for unlicensed issuance but tracking the movement of stablecoins may need additional monitoring and regulatory systems. Determining tax implications with the rapid movement of stablecoins will also require further guidance. Stablecoins being backed by the U.S. dollar is especially powerful and lends to the international reliance on U.S. backed currencies. In the same month that stablecoins hit the Senate floor under the GENIUS Act, the Israel-Iran conflict surged. Stablecoins have, historically, flourished where there is economic instability and global crisis may further support the cross-border reliance on the stability of the U.S. currency. Stablecoins are accepted globally because they are pegged to the U.S. dollar. flow of assets moves rapidly, outpacing the rate at which the law can adapt. Stablecoins are a class of cryptocurrency designed to maintain a stable value by tying their worth to traditional assets, such as fiat currencies, specifically, the U.S. dollar. This backing aims to reduce the volatility that is associated with other cryptocurrencies, such as Bitcoin (BTC), which have shown to be increasingly volatile because of their magnetic response to supply and demand, user sentiment, and government regulations. More specifically, the stablecoin is capable of maintaining stability by pegging its value on a 1:1 basis to an underlying asset, meaning that for every stablecoin in circulation, there is an equivalent amount of that asset held in reserve to back it. These coins are housed and exchanged on decentralized networks, blockchains, which act as a transparent ledger to account for all transactions. Unliked traditional payment systems, such as credit cards or wire transfers, the decentralized structure does not need intermediaries, enabling consumers to move funds rapidly and without the additional intermediary and exchange fees. Stablecoin allows for reduced transaction costs, increased speed, and the expansion of investment opportunities and integration, without a reporting trail. Regulation Of Stablecoins Widens Trust But Clarity Is Needed The GENIUS Act provides a regulatory framework to mitigate the risk associated with digital currency, especially cryptocurrency. to do exactly that. The bill outlines a federal regulatory framework that provides clearer rules for operation, issuance, and reserve requirements. Some of the bill's requirements include 100% reserve backing with U.S. dollars, or similar assets along with disclosure and audit requirements including prohibilitions on misleading representations on whether the stablecoin is government-backed or insured. For foreign issued stablecoins, the legislation requires the Federal Reserve to conduct a study regulatory reciprocity, which signals a broader interest in aligning international frameworks. Further guidance on applicable fees on transactions, cross-border use, tax implications and applicability especially with use in non-treaty countries, and privacy considerations will need to be further detailed. While the GENIUS Act brings clarity for regulatory matters, issues concerning consumer protection remain unanswered. Future legislation may need to address necessary consumer protection measures, such as deposit insurance, dispute resolution, and limited oversight to all regulators. Significant treasury regulations may be necessary to fully address tax implications, particularly in the estate and gift tax area on transfers of and by stablecoins and similar digital currency. The GENIUS Act is the beginning of signaling acceptance of a currency system that is increaseing being globally embraced but will need significant additonal provisions to address the implications of transactions made with stablecoins. Additonally, while stablecoins have gained favor for cross-border payments, the Foreign Account Tax Compliance Act ('FATCA'), Report of Foreign Bank and Financial Accounts ('FBAR'), and Statement of Specified Foreign Financial Assets ('Form 8938') imposing significant reporting obligations on foreign holdings and transactions add additional layers of complexity and the need for clarity in the application to stablecoins. Under FACTA, for instance, foreign banks must identify U.S. account holders and report their financial details to the IRS, making compliance and enforcement dependent on institutional cooperation, which may be inapplicable due to stablecoins being built on public blockchains. With stablecoin, users are able to download a wallet, receive stablecoins, and move funds globally without triggering institutional reporting requirements. This is where the institutional gap begins to widen. An individual who is equipped with financial and legal advisors would be able to shift assets to the stablecoin network or decentralized finance ('DeFi') protocols swiftly, limiting IRS visibility by not holding assets in reportable institutions. For those who do not fall within the crypto-savvy elite or do not have sophisticated advisors, they will find themselves facing mandatory disclosure and also full exposure of their assets. Digital tools promise access, but in practice, the lack of reporting standards in the crypto universe tends to favor those who are already positioned to navigate around friction. The Hidden Opportunity During Instability With Stablecoins In a situation where a country is facing an economic and political collapse and is liquidating national assets, such as foreign exchange reserves, government-held equities, enterprises, and commodities, including oil reserves and gold, at steep losses, a wealthy investor may be able to profit from the buy opportunity especially when they have access to moving funds quickly using stablecoins. In this scenario, a strategic buyer may be able to use stablecoins to invest through holding companies, to buy ports, land, or tech infrastructure. This transaction would move quickly and be difficult to trace fully In the current regulatory landscape of cryptocurrency, the GENIUS Act may live up to its name as a first smart stepintegrating with the global, fast-paced, economic landscape but enforceable oversight and additional regulations to address reporting, compliance, and taxation as the stablecoins move through transactions will be vital to its longterm success. Future regulations may address wallet level transparency thresholds, stablecoin transaction reporting triggers, and most importantly, international coordination to make the use and U.S. participation in the global market with stablecoins effective and seamless.
Bloomberg
an hour ago
- Bloomberg
Ringgit Rises to Nine-Month High on Tariff Relief, Weak Dollar
Malaysia's ringgit advanced to the strongest level in nine months against the dollar, buoyed by easing global trade tensions and broad weakness in the US currency. The ringgit climbed as much as 0.7% to 4.1805 per greenback, a level last seen in October. The currency has rallied in recent weeks amid signs the global trade war is easing, boosting sentiment for the export-dependent economy.
Yahoo
2 hours ago
- Yahoo
Investors in MyState (ASX:MYS) have seen returns of 18% over the past year
These days it's easy to simply buy an index fund, and your returns should (roughly) match the market. But investors can boost returns by picking market-beating companies to own shares in. For example, the MyState Limited (ASX:MYS) share price is up 12% in the last 1 year, clearly besting the market return of around 8.3% (not including dividends). If it can keep that out-performance up over the long term, investors will do very well! Having said that, the longer term returns aren't so impressive, with stock gaining just 1.0% in three years. Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). During the last year, MyState actually saw its earnings per share drop 6.9%. This means it's unlikely the market is judging the company based on earnings growth. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics. For starters, we suspect the share price has been buoyed by the dividend, which was increased during the year. It could be that the company is reaching maturity and dividend investors are buying for the yield, pushing the price up in the process. The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers). We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. So we recommend checking out this free report showing consensus forecasts It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of MyState, it has a TSR of 18% for the last 1 year. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence! It's good to see that MyState has rewarded shareholders with a total shareholder return of 18% in the last twelve months. Of course, that includes the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 6% per year), it would seem that the stock's performance has improved in recent times. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. It's always interesting to track share price performance over the longer term. But to understand MyState better, we need to consider many other factors. Like risks, for instance. Every company has them, and we've spotted 2 warning signs for MyState (of which 1 is significant!) you should know about. MyState is not the only stock insiders are buying. So take a peek at this free list of small cap companies at attractive valuations which insiders have been buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. — Investing narratives with Fair Values A case for TSXV:USA to reach USD $5.00 - $9.00 (CAD $7.30–$12.29) by 2029. By Agricola – Community Contributor Fair Value Estimated: CA$12.29 · 0.9% Overvalued DLocal's Future Growth Fueled by 35% Revenue and Profit Margin Boosts By WynnLevi – Community Contributor Fair Value Estimated: $195.39 · 0.9% Overvalued Historically Cheap, but the Margin of Safety Is Still Thin By Mandelman – Community Contributor Fair Value Estimated: SEK232.58 · 0.1% Overvalued View more featured narratives — Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
