Roche secured global rights to Qyuns Therapeutics’ bispecific antibody QX-031N in a licensing and collaboration that starts with a $75 million upfront payment and reaches up to roughly $1.07 billion with milestones. The candidate, which targets thymic stromal lymphopoietin and interleukin‑33, is being advanced for respiratory diseases including COPD and asthma. Under the agreement Roche will develop, manufacture and commercialize the asset worldwide while Qyuns retains certain milestone and royalty economics. Roche described the deal as complementary to its respiratory portfolio and highlighted the program’s potential for underserved patient groups. The transaction underscores continued Big Pharma interest in multispecific antibodies and the China biotech innovation pipeline; it also highlights cross-border licensing as a rapid route for large pharma to bolster late-stage respiratory pipelines.