ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd (HKG: 1541) has received a USD 10 million upfront payment from SynBioTx, the wholly owned subsidiary of US-based Instil Bio Inc (Nasdaq: TIL). This payment is in accordance with a licensing agreement finalized earlier this month. The agreement outlines the potential for an additional USD 40 million in near-term payments, with the first installment anticipated in September. Furthermore, ImmuneOnco and SynBioTx have established a joint clinical development and operation committee to actively advance the development of IMM2510 and IMM27M.
The licensing deal, inked on August 1, 2024, conveys to InstilBio the development and commercialization rights for ImmuneOnco’s proprietary PD-L1- and VEGF-targeted bispecific antibody, IMM2510, and its next-generation anti-CTLA-4 antibody, IMM27M, outside of China. The transaction includes a substantial upfront payment of USD 50 million and a milestone payment of up to USD 2 billion. IMM2510 is a novel bispecific antibody that fuses an anti-PD-L1 antibody with a VEGF receptor “trap” to bind VEGF, positioning it as a potentially best-in-class therapy. IMM27M is distinguished as a next-generation anti-CTLA-4 antibody with enhanced antibody-dependent cellular cytotoxicity (ADCC) activity, designed to promote the depletion of intratumoral regulatory T cells, thereby enhancing efficacy and reducing the toxicity associated with first-generation anti-CTLA-4 antibodies.- Flcube.com
