On March 30, 2021 ImmuneOncia Therapeutics, Inc., a clinical-stage, immuno-oncology company in South Korea, and 3D Medicines, Inc., a China-based biopharmaceutical company developing next-generation immuno-oncology drugs, reported an exclusive license agreement for the development, manufacture and commercialization of IMC-002, ImmuneOncia’s monoclonal antibody against CD47 (Press release, ImmuneOncia Therapeutics, MAR 30, 2021, View Source [SID1234577386]). The agreement includes uses of IMC-002 for oncology indication as a monotherapy or combination agent in the Territory of Greater China (Mainland China, Hong Kong, Macau, and Taiwan). ImmuneOncia will retain rights of IMC-002 in the rest of the world including the United States, European Union, and Japan.
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Under the terms of the agreement, ImmuneOncia will receive an upfront payment of $8 million from 3D Medicines. Additionally, ImmuneOncia is eligible to receive up to $462.5 million upon the achievements of all future development and commercial milestones, plus tiered royalties up to double-digits on annual net sales of IMC-002 in Greater China. In exchange, 3D Medicines will receive rights to develop, manufacture and commercialize IMC-002 in Greater China. 3D Medicines is planning to file IND to NMPA in China this year.
"3D Medicines is an established leader in oncology, with a track record of successfully developing in-licensed oncology programs." said Yun Jeong Song, Chief Executive Officer of ImmuneOncia. "We are confident that 3D Medicines is the ideal partner as we enter into our collaboration and look forward to accelerating our delivery of IMC-002 to patients in Greater China."
"We are very pleased to enter into this exclusive collaboration with ImmuneOncia" said John Gong, M.D., Ph.D., Chairman and Chief Executive Officer of 3D Medicines. "We believe that IMC-002, used in combination with existing standard of care therapeutics or Envafolimab, an innovative subcutaneous PD-L1 antibody which we have just filed for marketing approval in China, could alter the treatment paradigm across various tumor types."
YAFO Capital (Shanghai) Co. Ltd. acted as financial advisor on this transaction for ImmuneOncia.
About IMC-002
IMC-002 is a fully human IgG4 monoclonal antibody designed to block the CD47–SIRPα interaction in order to promote the phagocytosis of cancer cells by macrophages. According to its non-clinical results, it binds to human CD47 with an optimal affinity that maximizes efficacy without binding to RBCs or causing anemia which is often seen in other CD47 blocking agents under development. For more information about the Phase 1 clinical trial, visit clinicaltrials.gov, identifier number NCT04306224.