Dianthus licenses DNTH212 from Leads Biolabs; $30M upfront, $962M potential milestones

Dianthus Therapeutics, Inc. /DE/

Up to $38M in upfront and near-term payments ($30M cash plus $8M milestone at Phase 1 start).
Additional up to $962M in development, regulatory, and sales-based milestones across five indications.
Tiered royalties from mid-single digits to low double-digit on ex-Greater China net sales.
Preliminary cash $555M as of Sep 30, 2025; pro forma $525M after $30M payment to Leads.

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