China-based Biocytogen Pharmaceuticals (Beijing) Co., Ltd has announced an evaluation and option agreement with Swiss firm ADC Therapeutics SA. Under the agreement, Biocytogen will grant ADC Therapeutics a license to evaluate its proprietary antibodies against three tumor targets. ADC Therapeutics will have the option to license selected antibodies at a later date for global antibody-drug conjugate (ADC) development and commercialization.
Agreement Details
Biocytogen will retain all global rights for these antibodies beyond ADC development. As part of the agreement, Biocytogen will receive an upfront payment. For each option exercised, Biocytogen will be entitled to an option-exercise fee, as well as development and commercial milestone payments. These payments could potentially total tens of millions of US dollars, in addition to single-digit royalties on net sales.-Fineline Info & Tech
