Bristol Myers Squibb (BMS) has entered into a collaboration with Harbour BioMed, a Chinese biotechnology company, to develop multi-specific antibody therapies. The agreement includes an upfront payment of $90 million from BMS and could reach over $1 billion if development and commercial milestones are met.
The companies did not disclose the number of antibody programs or the specific diseases they intend to target. Central to the partnership is Harbour’s proprietary Harbour Mice platform, which CEO Jingsong Wang described as generating biologics “with enhanced therapeutic potential.” According to the company, this technology can produce bispecific antibodies that may have strong tumor-killing abilities or other therapeutic effects in immunological or inflammatory conditions.
“Harbour’s proprietary Harbour Mice platform generates biologics ‘with enhanced therapeutic potential,’” said Jingsong Wang, CEO of Harbour BioMed.
This deal marks BMS’s latest move to collaborate with Chinese biotech firms for innovative therapies. Earlier in 2025, Harbour signed a similar agreement with AstraZeneca worth up to $4.68 billion for antibody development.
Other major pharmaceutical companies have also formed partnerships with Chinese firms this year. Gilead subsidiary Kite agreed in October to pay Pregene $120 million upfront for a cell therapy collaboration, with additional milestone payments potentially totaling $1.52 billion and undisclosed royalties. In July, AstraZeneca committed up to $5.3 billion in an AI-driven partnership with CSPC focused on oral therapies for chronic diseases.
These deals reflect a broader trend of increased investment by global biopharma companies in China. During the first half of 2025 alone, more than $48 billion was invested into China by the industry—surpassing total investments made in 2024—according to an August analysis by IQVIA. Pfizer’s possible $6 billion acquisition of rights for 3SBio’s PD-1/VEGF antibody is among the largest deals so far this year.
