UK-based GSK plc (NYSE: GSK) has entered into an exclusive option agreement with Duality Biologics, a developer of antibody conjugate drugs (ADCs) with operations in the United States and China. The agreement is in relation to a potentially best-in-class ADC candidate, DB-1324.
Terms of the Agreement and Financial Details
Under the agreement, DualityBio will grant GSK an exclusive option to obtain a license for the global development and commercialization of DB-1324, excluding mainland China, Hong Kong, and Macau. GSK will pay an upfront fee of USD 30 million and additional pre-option milestone payments. Should GSK exercise the option, DualityBio will receive an option exercise fee as well as potential development, regulatory, and commercial milestone payments totaling up to USD 975 million. Upon commercialization, GSK will pay tiered royalties on DB-1324’s global net sales outside of mainland China, Hong Kong, and Macau, while GSK will receive royalties on net sales in these regions.
DB-1324 and DualityBio’s DITAC Platform
DB-1324 is an ADC candidate built on DualityBio’s proprietary and clinically validated Duality Immune Toxin Antibody Conjugate (DITAC) platform. The drug is currently in the pre-clinical stage and targets gastrointestinal (GI) cancer. The partnership with GSK has the potential to accelerate the development and global reach of DB-1324, bringing a new treatment option to patients battling GI cancer.-Fineline Info & Tech
