On July 16, 2024 SOTIO Biotech, a clinical-stage biopharmaceutical company owned by PPF Group, and Biocytogen (HKEX: 02315), a global biotech company focused on the discovery of novel antibody therapeutics, reported a research collaboration and exclusive option and license agreement (Press release, Biocytogen, JUL 16, 2024, View Source [SID1234644905]).
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The agreement grants SOTIO the option to license multiple fully human bispecific antibodies generated with Biocytogen’s proprietary RenLite platform, which SOTIO will use to develop next-generation antibody-drug conjugates (ADCs) targeting solid tumors. The agreement also includes an option for SOTIO to leverage Biocytogen’s proprietary ADC platform. Biocytogen will be eligible to receive upfront, development, and commercial milestones and royalties on net sales on a product-by-product basis.
"SOTIO’s powerful ADC platform brings together multiple technologies, allowing us to tailor our therapeutics to meet the needs of specific cancer types. Specifically, exploiting bispecific targeting in the context of our ADC approaches to improve precision targeting and overcome tumor heterogeneity is particularly appealing," said Martin Steegmaier, Ph.D., chief scientific officer of SOTIO. "This agreement with Biocytogen complements our existing collaborations with Synaffix, LigaChem, and NBE-Therapeutics, providing SOTIO with access to fully human antibodies from Biocytogen’s state-of-the-art in vivo discovery platform. With the first targets for a bispecific program already selected, we are well-positioned to expand our ADC pipeline and the therapeutic possibilities for patients with solid tumors."
Under the terms of the agreement, Biocytogen is eligible to receive upfront and potential milestone payments worth up to $325.5 million, plus low single-digit royalties on net sales. SOTIO and Biocytogen will collaborate closely during the research phase of the bispecific programs. SOTIO will be responsible for non-clinical and clinical development, manufacturing, and commercialization of the ADC products.
"We are eager to deploy Biocytogen’s cutting-edge tools for antibody discovery to support SOTIO’s exciting ADC development plans," said Yuelei Shen, Ph.D., president and chief executive officer of Biocytogen. "Our unique RenMice platforms allow us to discover fully human antibodies with high affinity, low immunogenicity, and favorable developability. We look forward to working with SOTIO to advance novel therapeutics that have the potential to improve cancer treatment."