Quracle has submitted a corrective disclosure finalizing the method and timing of the upfront payment in relation to the global technology transfer agreement for the bispecific antibody candidate 'MT-103'. On the 5th, Quracle disclosed the details of the upfront payment for the MT-103 technology transfer agreement signed with the U.S. biotech company Memento Medicines through a corrective disclosure on major management matters related to investment decisions.

According to the corrective disclosure, the upfront payment totals 4 million USD (approximately 5.8332 billion KRW), consisting of 3.25 million USD in cash and 750,000 USD in Memento equity. Originally, the cash was subject to a payment condition within 30 days from the contract date of May 10, 2026, and the equity was to be paid at the point it is reflected in Memento's books after the initial specific allocation is completed. The company stated that the 3.25 million USD in cash was fully received on June 5, 2026, and the equity contract has also been finalized.

This MT-103 technology transfer agreement grants Memento exclusive worldwide rights for the development, manufacturing, and commercialization of the candidate. The contract was signed on May 10, 2026, and its duration lasts until the end of the royalty period.

This agreement was signed in accordance with the joint research and development contract between Quracle and Maptics, with a total technology transfer contract value of 1.07775 billion USD. Of this, reflecting Quracle's 50% share, the total contract scale from Quracle's perspective amounts to 538.875 million USD (approximately 781.8 billion KRW). From Quracle's perspective, excluding the 4 million USD upfront payment, the development and approval milestones amount to 41.125 million USD, and the commercialization milestones amount to 493.75 million USD. Running royalties are not included. Based on the total contract, the upfront payment is 8 million USD, development and approval milestones are 82.25 million USD, and commercialization milestones amount to 987.5 million USD.

The company explained, "The upfront payment is a fixed amount with no obligation to return," and "The development, approval, and commercialization milestones are conditional amounts to be received upon the fulfillment of stage-by-stage conditions, such as clinical trials and regulatory approvals."

Furthermore, as a precaution for investors, the company warned that the actual scale of revenue recognition may vary depending on the success of clinical trials, product approvals, and commercialization. It also added that the contract may be terminated if regulatory authorities halt research and development or if product approval fails.