Tolerance Bio signs up to $560M deal for anti-IL-33 drug from Tanabe

Tolerance Bio has licensed the rights to an anti‑IL‑33 monoclonal antibody from Mitsubishi Tanabe Pharma for use outside Japan. The antibody, previously known as MT‑2990 and to be renamed TLB‑33, was evaluated in more than 150 patients across five clinical trials.

The agreement includes milestone payments that could total up to $560 million, though the companies did not disclose the payment schedule. Tolerance plans to advance TLB‑33 into a Phase 2 study to assess its ability to preserve thymic function and boost immune resilience, with potential applications in other immune‑related conditions.

Founded in October 2024 with $17.2 million in seed funding, the Philadelphia‑based biotech focuses on targeting the thymus to treat immune‑mediated diseases. The deal follows a $260 million licensing agreement signed last month with NeoImmuneTech for a long‑acting IL‑7 fusion protein.