ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd (HKG: 1541) has announced the receipt of a further payment of USD 5 million from its U.S. partner Instil Bio Inc (NASDAQ: TIL), following an initial USD 10 million payment made last month. These payments are part of a licensing agreement executed in August 2024, which outlines potential near-term payments totaling an additional USD 35 million.
The licensing deal, effective from August 1, 2024, has granted InstilBio the rights to develop and commercialize ImmuneOnco’s proprietary PD-L1- and VEGF-targeted bispecific antibody, IMM2510, as well as its next-generation anti-CTLA-4 antibody, IMM27M, outside of China. The agreement includes an upfront payment of USD 50 million and potential milestone payments reaching up to USD 2 billion.
IMM2510 is a novel bispecific antibody that combines an anti-PD-L1 antibody with a vascular endothelial growth factor (VEGF) receptor “trap,” which is designed to bind VEGF, offering a dual-targeted approach to immunotherapy. IMM27M is an advanced anti-CTLA-4 antibody engineered to enhance antibody-dependent cell-mediated cytotoxicity (ADCC) activity, promoting the depletion of intratumoral regulatory T cells. This innovative design aims to increase efficacy and reduce the toxicity associated with first-generation anti-CTLA-4 antibodies. – Flcube.com
