Cue Biopharma Licenses Anti-IgE Antibody Ascendant-221 and Appoints Dr. Shao-Lee Lin as CEO

On April 30, 2026, Cue Biopharma entered into a global license agreement (excluding Greater China) with Ascendant Health Sciences Ltd. for Ascendant-221 (formerly UB-221), an anti-IgE monoclonal antibody. Cue will pay an upfront fee of $15 million, with potential development, regulatory, and commercial milestones totaling up to $676.5 million, plus tiered royalties. The deal includes a $30 million private placement of pre-funded warrants and warrants to accredited investors, including new CEO Dr. Shao-Lee Lin, to fund operations. Concurrently, Cue appointed Dr. Shao-Lee Lin as President and CEO, succeeding interim CEO Lucinda Warren. Dr. Lin, former CEO of ACELYRIN, receives an inducement grant of options for 655,074 shares and 327,537 RSUs. The company also established an Inducement Stock Incentive Plan for 3,000,000 shares to attract new talent. Stockholder approval will be sought for the issuance of shares underlying the warrants issued to Ascendant and private placement investors.