Germany’s BioNTech (NASDAQ: BNTX) has entered into an exclusive license and collaboration agreement with China-based Biotheus Inc., focusing on the development and commercialization of the bispecific antibody (BsAb) PM8002. The deal grants BioNTech development, manufacturing, and commercial rights to PM8002 in all markets outside of Greater China, marking a significant expansion in BioNTech’s global reach.
Financial Terms and Milestones
BioNTech is paying USD 55 million upfront for the rights to PM8002 and has committed to milestone payments potentially exceeding USD 1 billion, in addition to tiered royalties on future sales. This substantial investment underscores the importance of PM8002 in BioNTech’s portfolio and the potential impact of this collaboration. The transaction is anticipated to receive regulatory clearance by Q4 2024.
PM8002’s Mechanism and Clinical Stage
PM8002 is a unique molecule that combines humanized anti-PD-L1 single heavy-chain variable (VHH) domains with an anti-VEGF-A IgG1 antibody containing Fc-silencing mutations. This design aims to reduce systemic toxicity, making it a promising candidate for the treatment of advanced solid tumors. Currently in Phase II clinical trials in China, PM8002’s data was presented at this year’s ASCO Annual Meeting and ESMO Congress, highlighting its potential in oncology treatment.
BioNTech’s Strategic Partnerships in China
This collaboration builds on BioNTech’s existing relationship with Biotheus Inc., which began in July this year with a research collaboration aimed at exploring potential options from Biotheus’s pipeline. BioNTech has been actively seeking partnerships with Chinese companies to bolster its post-COVID-19 pipeline, including a significant deal with Suzhou’s MediLink Therapeutics for the development of a HER3-targeted antibody drug conjugate (ADC), as well as two deals with Duality Biologics (Suzhou) Co., Ltd for three different ADCs, totaling over USD 1.67 billion. Additionally, BioNTech has acquired an undisclosed drug candidate from Zhejiang Doer Biologics, further expanding its pipeline and global presence.-Fineline Info & Tech
