The board of directors of Biocytogen Pharmaceuticals (Beijing) Co., Ltd. announced an antibody evaluation, option and license agreement with Ona Therapeutics. Under the terms of the Agreement, Biocytogen will grant Ona access to evaluate Biocytogen's proprietary RenMice®?-derived fully human antibodies against a specific tumor target, with an option to exclusively license selected antibodies for antibody-drug conjugate (the "ADC") development, manufacturing and commercialization in mutually agreed indications and territories. Biocytogen will receive an upfront payment for granting the option, and will be further entitled to an option-exercise fee, development and commercialization milestone payments, as well as single-digit royalties on net sales once Ona elects to exercise the option in full.