China-based Biocytogen Pharmaceuticals (Beijing) Co., Ltd (HKG: 2315) has announced an antibody evaluation, option, and license agreement with Myricx Bio, a UK biotech company specializing in the discovery and development of a novel class of selective cytotoxic payloads for antibody drug conjugates (ADCs). These payloads are based on inhibitors of N-myristoyltransferases (NMT) for the treatment of cancer.
Collaboration Details and ADC Development
Under the terms of the agreement, Myricx will provide its proprietary linker and payload, which Biocytogen will conjugate with its RenMice-derived fully human antibodies to create ADCs. Biocytogen will conduct feasibility tests for these ADCs as part of contract research organization (CRO) services. Should the option be exercised, Myricx will take on the responsibility for further development and commercialization of the ADCs.
Financial Terms and Potential Milestones
Biocytogen is set to receive an upfront payment from Myricx. Subject to the exercise of the option, Biocytogen will also be eligible to receive ongoing development and commercialization milestone payments, as well as single-digit royalties on net sales of the ADCs. This agreement signifies a strategic partnership that combines Myricx’s expertise in cytotoxic payloads with Biocytogen’s capabilities in human antibody development, aiming to advance the treatment of cancer through innovative ADCs.-Fineline Info & Tech
