Elevation Oncology ends license agreement with CSPC Megalith Biopharmaceutical

CAR-T Digest - August 2020

03 July 2025: Elevation Oncology ends license agreement with CSPC Megalith Biopharmaceutical

Elevation Oncology has terminated its license agreement with CSPC Megalith Biopharmaceutical for EO-3021, effective June 26, 2025
EO-3021 is a Claudin 18.2-targeting ADC, Elevation had exclusive rights outside greater China but discontinued its development in March 2025
Elevation Oncology and CSPC had a license agreement, but now it’s ended. CSPC gets back all the rights EO-3021 asset, and both companies are free from any further payments to each other
Despite the setback, Elevation maintains a strong liquidity position, with liquid assets far exceeding short-term liabilities and a current ratio of 19.4