89bio enters $135M agreement with BiBo to build pegozafermin production facility

89bio, Inc.

Collaboration agreement with BiBo to construct a production facility for pegozafermin commercial supply.
89bio to pay $135M total; 45% due in Q3 2024, remainder on milestone achievements.
Facility located in Lin-gang Special Area, Shanghai Pilot Free Trade Zone.
Work order for commercial supply under existing MSA expected before facility operations.
Negotiated discount on commercial supply until payment recouped.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

89bio, Inc. entered into Collaboration Agreement with BiBo Biopharma Engineering Co., Ltd. valued at $135 million (effective 2024-04-04).

Action: entry
Agreement: collaboration
Counterparty: BiBo Biopharma Engineering Co., Ltd.
Value: $135 million
Effective: 2024-04-04

Exact text from the filing

On April 4, 2024, 89bio, Inc., a Delaware corporation (the “Company”), entered into a collaboration agreement (the “Collaboration Agreement”) with BiBo Biopharma Engineering Co., Ltd., a company incorporated under the laws of the People’s Republic of China (“BiBo”), pursuant to which BiBo will construct a production facility specifically designed to supply the Company with pegozafermin for commercialization, if approved (the “Production Facility”)

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Source: SEC EDGAR

accession 0001193125-24-091945

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