[Edaily Reporter Minji Son ] LigaChem Biosciences has secured a milestone payment for “LCB97,” an antibody-drug conjugate (ADC) candidate it licensed to Japan’s Ono Pharmaceutical. This follows the first patient dosing, which fulfilled the conditions for receiving the milestone payment tied to clinical progress.

According to the Financial Supervisory Service’s electronic disclosure system on the 9th, LigaChem Biosciences announced that it is set to receive a milestone royalty payment from Ono Pharmaceutical for the first patient dosing of LCB97, which was licensed to the company. Previously, LigaChem Biosciences had licensed LCB97 to Ono Pharmaceutical in 2024.

The amount received was not disclosed due to a confidentiality clause in the contract. However, LigaChem Biosciences stated that this short-term milestone royalty payment represents more than 10% of last year’s consolidated revenue of 141.6 billion won, suggesting the amount received is at least 14.1 billion won.

LigaChem Biosciences issued an invoice on the same day and expects to receive the milestone royalty payment within 45 days of the invoice date.

A representative from LigaChem Biosciences stated, “If future clinical trials, regulatory approval, and commercialization do not materialize, the technology transfer agreement may be terminated,” but added, “Even if the agreement is terminated, there is no obligation to return the milestone royalty.”