Harbour Biomed closed a year‑end collaboration with Bristol Myers Squibb to develop multispecific antibodies, receiving roughly $90 million up front and potential milestones that could exceed $1 billion. The partnership accelerates Harbour’s multispecific antibody platform by leveraging BMS’s late‑stage development and commercialization capabilities. The transaction reflects sustained Big Pharma interest in multispecific modalities and Asia‑originated assets. Harbour’s upfront payment and milestone structure provide immediate non‑dilutive capital and validate the company’s platform, while BMS gains access to novel multispecific constructs to expand its oncology pipeline.