LaNova Medicines Ltd, a Shanghai-based developer of cancer therapies, has announced the reclamation of control over LM-302, an antibody drug conjugate (ADC) targeting Claudin 18.2, from US pharmaceutical giant Bristol-Myers Squibb (BMS; NYSE: BMY). LaNova had previously signed an agreement with Turning Point Therapeutics, Inc. (TPTX.US) in May 2022 to out-license LM-302. Turning Point paid an upfront fee of USD 25 million and was eligible for potential milestone payments of up to USD 1 billion to secure exclusive development and commercialization rights to the drug outside of Greater China and South Korea. BMS acquired Turning Point in June 2022, thereby acquiring its portfolio, including the ROS1/NTRK/ALK multi-target tyrosine kinase inhibitor (TKI) repotrectinib and LM-302.
While BMS has not disclosed the reasons for returning the rights to LM-302, it has been speculated that the company may have lost competitive ground in the CLDN18.2 landscape. This comes on the heels of Astellas Pharma Inc. (TYO: 4503)’s Vyloy (zolbetuximab-clzb), the first and only CLDN18.2-targeted therapy globally, receiving marketing approval in the US for use in combination with fluoropyrimidine- and platinum-containing chemotherapy in first-line locally advanced unresectable or metastatic human epidermal growth factor receptor 2 (HER2)-negative, CLDN18.2 positive, gastric or gastroesophageal junction (GEJ) adenocarcinoma.- Flcube.com
