Lepu Biopharma Co., Ltd (HKG: 2157) has announced an exclusive licensing agreement with ArriVent BioPharma, Inc. (NASDAQ: AVBP) for MRG007, a potential best-in-class antibody-drug conjugate (ADC) targeting gastrointestinal (GI) cancers. This partnership aims to advance the development and commercialization of MRG007 globally, excluding Greater China.
Agreement Details
Under the terms of the agreement, Lepu Biopharma has granted ArriVent exclusive rights to develop, manufacture, and commercialize MRG007 outside of Greater China. Lepu Biopharma will receive a one-time upfront and near-term milestone payments totaling $47 million in cash. Additionally, the company is eligible to receive up to $1.16 billion in development, regulatory, and sales milestones, along with tiered royalties on net sales outside of Greater China.
MRG007: Development and Potential
MRG007 is a potential best-in-class ADC that has demonstrated robust antitumor activity in preclinical models of GI cancers, with a favorable therapeutic index based on IND-enabling studies. The first Investigational New Drug (IND) submission for MRG007 is planned for the first half of 2025, with an initial clinical development focus on colorectal, pancreatic, and other GI cancers. This ADC holds promise for addressing significant unmet needs in the treatment of GI cancers.-Fineline Info & Tech
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