Cue, LG in biologics deal

Cue Biopharma Inc. (NASDAQ:CUE) granted LG Chem Life Sciences exclusive development and commercialization rights in certain Asian-Pacific countries, including Japan, China and Korea, and Australia to CUE-101 and Cue's Immuno-STAT biologics that target T cells against two undisclosed cancer antigens.

Cue will receive $5 million up front, and LG Chem will purchase about $5 million in Cue stock. Cue is eligible for up to $400 million in milestones, plus tiered single-digit royalties. LG Chem is eligible for low single-digit royalties outside of its territories...