On May 27, 2024 MediLink Therapeutics (Suzhou) Co., Ltd. ("MediLink"), a clinical-stage biotech company, reported a new strategic collaboration with BioNTech SE (Nasdaq: BNTX, "BioNTech"), a next-generation immunotherapy company pioneering novel therapies for cancer and other serious diseases, under which BioNTech will receive an exclusive option to an exclusive global license to apply MediLink’s TMALIN antibody-drug conjugate (ADC) platform, for several novel targets chosen by BioNTech (Press release, Suzhou Medilink Therapeutics, MAY 27, 2024, View Source [SID1234643719]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Under the terms of this new agreement, MediLink will receive an upfront payment of $25 million and is eligible to receive additional development, regulatory and sales milestone payments potentially totaling up to $1.8 billion, as well as tiered royalties on potential future global annual net sales. As part of the agreement, MediLink will hold the right of first negotiation for future collaboration of these ADC product candidates if BioNTech wishes to exclusively license or assign rights in such ADC product candidates solely on the Mainland China market or Mainland China market together with one or more of the markets including of Hong Kong Special Administrative Region (SAR), Macau SAR or Taiwan region.
In October 2023, MediLink and BioNTech entered into a strategic collaboration and global license agreement to develop BNT326/YL202, a next-generation anti-HER3 ADC. Both parties have decided to expand their collaboration and have reached this new platform collaboration license agreement.
The expansion of the collaboration marks a further consolidation of the strategic partnership between MediLink and BioNTech, laying a new foundation for the mutual R&D collaboration in the ADC field.