Johnson & Johnson’s (J&J; NYSE: JNJ) pharmaceutical subsidiary, Janssen, has entered into an exclusive global agreement with South Korean-based LegoChem Biosciences (LCB; KOSDAQ: 141080) to develop and commercialize the antibody drug conjugate (ADC) LCB84. Under the terms of the agreement, LCB is set to receive $100 million in upfront payments plus potential additional earnings of up to $1.6 billion from option exercise, milestone achievements, and royalty payments.
LCB84 utilizes an antibody licensed from Mediterranea Theranostic of Italy, targeting the Trop2 antigen, which is highly expressed in various cancer cells. The ADC candidate has demonstrated promising results in pre-clinical studies and is currently in the midst of a Phase I/II clinical trial.- Flcube.com
