France-based Ipsen (OTCMKTS: IPSEY) has announced a significant global licensing agreement with compatriot firm Biomunex Pharmaceuticals concerning the latter’s T cell engager (TCE), BMX-502. Ipsen is poised to secure exclusive development, manufacturing, and commercialization rights for BMX-502 across global territories.
Responsibilities and Milestones Under the Agreement
Under the terms of the agreement, Biomunex will complete the IND-enabling package, a prerequisite for initiating clinical trials. Ipsen will then take on the responsibility for Phase I preparation activities, including the submission of the Investigational New Drug (IND) application to regulatory authorities, and will lead all subsequent clinical development and global commercialization efforts.
Financial Terms and Potential Royalties
Biomunex is eligible to receive up to USD 610 million under the agreement, which includes an upfront payment and is contingent upon the successful achievement of development, regulatory, and commercial milestones. In addition to this, Biomunex will also receive tiered global royalties on sales of BMX-502, further incentivizing the success of the product.
BMX-502: A Bispecific Antibody Targeting Cancer Cells
BMX-502 is a bispecific antibody designed to engage and activate a specific subset of cytotoxic T cells known as Mucosal-Associated Invariant T cells (MAIT cells) and target the GPC3 tumor antigen, thereby killing cancer cells. Developed using Biomunex’s proprietary BiXAb technology, BMX-502 selectively engages MAIT cells, leveraging their unique properties to maximize anti-tumor activity and offering a novel approach to cancer treatment.-Fineline Info & Tech
