China-based Biocytogen (HKG: 2315) has entered into an option and licensing agreement with US-based IDEAYA Biosciences Inc. (NASDAQ: IDYA) for the development of Biocytogen’s B7H3/PTK7 program, a potential first-in-class bispecific antibody drug conjugate (BsADC). The agreement grants IDEAYA the option for an exclusive worldwide license to the drug, which has shown promise in targeting multiple solid tumor types, including significant prevalence in lung, colorectal, and head and neck cancers.
Under the terms of the deal, Biocytogen will receive an upfront payment and is eligible for an option exercise fee, development and regulatory milestones, and commercial milestone payments upon the exercise of the option by IDEAYA. Additionally, Biocytogen is set to receive single-digit royalties on net sales. The total potential value of the upfront, option exercise, and milestone payments aggregates to USD 406.5 million, including development and regulatory milestones worth USD 100.0 million.
Pre-clinical data for the B7H3/PTK7 topoisomerase-I-inhibitor-payload BsADC program indicate its potential as a monotherapy agent and in combination with other DDR-based therapies in IDEAYA’s pipeline, such as the PARG inhibitor IDE161. Biocytogen anticipates the nomination of a development candidate for the B7H3/PTK7 program in the second half of 2024.- Flcube.com
