[China BD 2025] Leads Biolabs and Dianthus enters a 1 Billion USD License on DNTH212 (LBL-047), a bifunctional BDCA2 and BAFF/APRIL inhibitor

Announced Date: 2025-10-16 (October 16, 2025)

Licensor (Seller): Nanjing Leads Biolabs (China)

Licensee (Buyer):  Dianthus Therapeutics (US)

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Asset Name: DNTH212 (LBL-047)

Asset Modality: bifunctional fusion protein

Asset Target: BDCA2 and BAFF/APRIL inhibitor

Potential Indication: multiple autoimmune disorders

Current Stage: Phase 1 study ready

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Scope of Authority:

Dianthus Therapeutics obtained exclusive rights to develop and commercialize DNTH212 globally outside of Greater China.

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Payment Detail:

Up to $38 million, comprised of $30 million in upfront and near-term milestone payments, additional $8 million milestone upon the initiation of a Dianthus-led Phase 1 study,

Additional $962 million in total development and regulatory approval milestones.

Sales-based milestones across multiple indications, as well as tiered royalties from mid-single digits up to a low double-digit on ex-Greater China net sales.

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Link:

Dianthus Therapeutics Announces Exclusive License Agreement with Leads Biolabs for DNTH212, a First and Potentially Best-In-Class, Phase 1 Ready Bifunctional BDCA2 & BAFF/APRIL Inhibitor for Severe Autoimmune Diseases – Dianthus Therapeutics (dianthustx.com)

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Note:

Chinese Name of Nanjing Leads Biolabs, 维立志博