Radiance Biopharma, a relatively new biotech founded two years ago, has inked a global licensing agreement with Novatim Immune Therapeutics for a bispecific nanobody antibody-drug conjugate (ADC) candidate, RB-601, which targets c-MET and EGFR receptors on solid tumors. The deal could yield up to $1.165 billion in payments to Novatim, including a $15 million upfront and up to $150 million in development and regulatory milestones, plus tiered royalties on sales. Radiance obtains rights for global markets excluding select Asian territories retained by Novatim. The ADC is currently in Phase I trials in China and has received investigational new drug (IND) clearance for US clinical trials. This licensing underscores continued industry interest in next-generation ADCs with improved specificity and efficacy profiles to treat difficult solid tumors.