HutchMed (China) Ltd (NASDAQ: HCM; HKG: 0013) has announced that Sino-US biotech Inmagene Biopharmaceuticals has exercised its option to license two drug candidates discovered by HutchMed, IMG-007 and IMG-004, under the terms of a strategic partnership signed on January 11, 2021. Upon the exercise of these options and subject to HutchMed receiving ordinary shares representing approximately 7.5% of the fully diluted shares in Inmagene, Inmagene will be granted an exclusive license to further develop, manufacture, and commercialize the two drug candidates globally.
As part of the partnership, HutchMed granted Inmagene exclusive options to multiple drug candidates for the sole treatment of immunological diseases. Since the initial agreement, Inmagene has funded and led the development of IMG-004 and IMG-007 into clinical trials. For each drug candidate, IMG-004 and IMG-007, HutchMed is entitled to potential payments upon the achievement of development milestones up to USD 92.5 million and commercial milestones up to USD 135 million, as well as royalties upon commercialization.
IMG-004 is a reversible, non-covalent, potent, highly selective, and brain permeable oral agent designed for inflammatory and autoimmune diseases that typically require long-term treatment. Phase I SAD study results indicate a long half-life and durable pharmacodynamics effect, suggesting the potential for once-daily dosing. Following the ongoing Phase I MAD study, IMG-004 will be evaluated in chronic spontaneous urticaria (CSU) and rheumatoid arthritis (RA).
IMG-007 is a humanized anti-OX40 IgG1 mAb with an elongated half-life and silenced antibody-dependent cell-mediated cytotoxicity function. The OX40-OX40L axis plays a crucial role in T cell activation, expansion, and survival, impacting the pathogenesis of various immunological and inflammatory diseases. IMG-007 has demonstrated the ability to selectively and potently block the signaling between OX40 and OX40L in nonclinical studies. Phase I SAD data indicates a 31-day half-life at anticipated therapeutic dose levels, enabling potential dosing every 12 weeks, and a favorable safety profile without pyrexia and chills, differentiating it from similar molecules in development. It is currently being evaluated for the treatment of moderate-to-severe atopic dermatitis and alopecia areata in two Phase IIa studies.- Flcube.com
