• Percheron Therapeutics obtains exclusive worldwide rights to Hummingbird Bioscience's anti-VISTA mAb for further clinical development
• Hummingbird Bioscience stands to receive up to USD 290 million in upfront and milestone payments, plus royalties, from Percheron Therapeutics
• Percheron Therapeutics aims to commence phase II clinical development of HMBD-002 in CY2026

SINGAPORE, June 26, 2025 (GLOBE NEWSWIRE) -- Hummingbird Bioscience, a biotherapeutics company discovering and developing transformative medicines for hard-to-treat diseases, today announced that it has granted Percheron Therapeutics Limited (ASX: PER) an exclusive worldwide license to develop, manufacture, and commercialize HMBD-002 in all territories and indications. Under the terms of the agreement, Hummingbird Bioscience will be eligible to receive up to USD 290 million in upfront and milestone payments, plus royalties on net sales.

HMBD-002 is a monoclonal antibody therapy targeting VISTA, a novel checkpoint involved in the body's immune response to cancer. HMBD-002 has successfully completed a phase I clinical trial in the United States, under an Investigational New Drug application with the US Food and Drug Administration, which showed the drug to be pharmacologically active and generally safe and well-tolerated. Percheron Therapeutics aims to continue clinical development of HMBD-002 in CY2026.

“Given the potential benefits of VISTA blockade in multiple cancers that have strong evidence of VISTA-mediated immune suppression, HMBD-002 is a scientifically compelling asset for both monotherapy and combination approaches. We are pleased to have Percheron Therapeutics continue the clinical development of HMBD-002,” said Piers Ingram, PhD, co-founder and Chief Executive Officer of Hummingbird Bioscience. “We have confidence in the potential clinical benefit of HMBD-002 and in Percheron's ability to successfully progress HMBD-002 through the clinic.”

“Hummingbird Bioscience lies at the cutting edge of novel drug design, and we are delighted to partner with them to take forward this very promising drug candidate,” said Dr. James Garner, Chief Executive Officer of Percheron Therapeutics. “We selected HMBD-002 out of more than a hundred individual drug candidates from more than seventy companies, and we very much hope that this exciting program can bring meaningful benefit to patients confronting the enormous challenge of a cancer diagnosis.”

About HMBD-002
HMBD-002 is a novel anti-VISTA neutralizing antibody, and the only IgG4 isotype anti-VISTA antibody currently in development. HMBD-002 was engineered to bind to VISTA at a specific site that is predicted to be essential for ligand binding and function, thus inhibiting VISTA and neutralizing its immunosuppressive activity without depleting VISTA-expressing cells that play many important roles in the immune system.

About Hummingbird Bioscience

Hummingbird Bioscience is a biotherapeutics company working at the interface of artificial intelligence and human innovation to discover and develop transformative medicines for hard-to-treat diseases. Hummingbird Bioscience's computational and systems biology technologies have generated a pipeline of innovative clinical-stage monoclonal antibodies and antibody-drug conjugates in oncology and autoimmunity.  At Hummingbird Bioscience, the commitment to rigorous science, teamwork, and intellectual integrity underpins our passion to accelerate the journey of new drugs from concept to clinic. For more information, please visit www.hummingbirdbioscience.com, and follow Hummingbird Bioscience on LinkedIn, X (formerly Twitter), and YouTube.

About Percheron Therapeutics Limited

Percheron Therapeutics Limited [ASX: PER | US OTC: PERCF] is a publicly listed biotechnology company focused on the development and commercialization of novel therapies for oncology and rare diseases. The company's lead program is HMBD-002, a monoclonal antibody targeting the immune checkpoint regulator, VISTA. HMBD-002 has completed a phase I clinical trial in patients with advanced cancer, which has shown the drug to be generally safe and well-tolerated. For more information, please contact info@PercheronTx.com.

Hummingbird Bioscience Media Contact:

Crystal Ho
c.ho@hummingbirdbio.com
media@hummingbirdbio.com
+65 6979 5580

Hummingbird Bioscience Investor Contact:
investors@hummingbirdbio.com