Pyramid Biosciences Inc. has in-licensed Genequantum Healthcare Co. Ltd.’s preclinical trophoblast cell surface antigen 2 (TROP2)-targeting antibody-drug conjugate (ADC), GQ-1010, in a deal worth up to $1 billion in potential milestones. Under the terms, Pyramid gains exclusive rights to develop and commercialize GQ-1010 globally, excluding greater China (mainland China, Hong Kong, Macau and Taiwan). In exchange, privately held Genequantum, of Suzhou, China, will receive an up-front payment of $20 million and up to an additional $1 billion in milestone payments. Genequantum will also be eligible to receive tiered-based sales royalties.