CUE Licenses Ascendant-221 for $15M Upfront, up to $676.5M Milestones
Cue Biopharma, Inc. announced an exclusive license agreement with Ascendant Health Sciences Ltd. to develop, manufacture, and commercialize Ascendant-221, a Phase 2 clinical stage anti-IgE monoclonal antibody for allergic diseases. Cue will pay an upfront license fee of $15 million, with potential additional payments up to $676.5 million upon achieving various development, regulatory, and commercial milestones, plus tiered royalties on future sales. The agreement grants Cue global rights excluding mainland China, Hong Kong, Macau, and Taiwan. Ascendant-221 is currently in a Phase 2 study in chronic spontaneous urticaria (CSU) in China, with results expected in 2H 2026, after which Cue plans to initiate a global Phase 2b trial in food allergy.
Key Highlights
- CUE entered exclusive license for Ascendant-221, a Phase 2 anti-IgE antibody.
- Upfront license fee of $15 million paid to Ascendant Health.
- Potential additional payments up to $676.5 million in development, regulatory, and commercial milestones.
- Tiered royalties on future sales of Ascendant-221.
- Global rights granted to CUE, excluding mainland China, Hong Kong, Macau, and Taiwan.
- Ascendant-221 is in a Phase 2 study in CSU in China, with results expected in 2H 2026.
- CUE plans to initiate a global Phase 2b trial in food allergy after China study data review.
- Ascendant-221 demonstrated rapid and durable suppression of free IgE for longer than twelve weeks with a single dose in Phase 1.