On May 12, 2023 LaNova Medicines Ltd. ("LaNova Medicines") reported that it has entered into an exclusive license agreement with AstraZeneca (LSE/STO/Nasdaq: AZN), for LM-305, a pre-clinical stage antibody drug conjugate (ADC) targeting G protein-coupled receptor, class C, group 5, member D (GPRC5D) (Press release, LaNova Medicines, MAY 12, 2023, View Source [SID1234631607]).
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 the licensing agreement, AstraZeneca will be granted an exclusive global license to research, develop, and commercialize LM-305. LaNova Medicines is eligible to receive an upfront and near-term payments of up to $55 million and additional development and commercial milestone payments of up to $545 million, as well as tiered royalties on net sales worldwide.
"LaNova Medicines has a strong focus on discovering and developing innovative medicines in the ADC and Immuno-Oncology fields. We’re excited to reach this agreement with AstraZeneca. With the potential to become a first-in-class GPRC5D-directed ADC for multiple myeloma, LM-305 exemplifies our innovative and robust platform for ADC development. This agreement is further recognition of our exceptional pipeline assets and R&D capabilities. We are confident that AstraZeneca is the ideal company to advance LM-305 for the betterment of patients globally." said Dr. Crystal Qin, Founder, Chairman, and CEO of LaNova Medicines.
Nina Shah, Global Head of Multiple Myeloma, Haematology R&D, AstraZeneca, said: "We are pleased to have the opportunity to advance the development of LM-305, a novel GPRC5D-targeting antibody drug conjugate (ADC), as a potential new treatment option for relapsed/refractory multiple myeloma. LM-305 advances our leadership in ADCs and enriches our growing Haematology pipeline, helping us deliver against our broader ambition to transform clinical outcomes for patients living with blood cancers."
About LM-305
LM-305 is a novel GPRC5D-targeting antibody drug conjugate, consisting of an anti-GPRC5D monoclonal antibody, a protease-degradable linker, and a cytotoxic payload monomethyl auristatin E (MMAE). LM-305 is the 2nd product to emerge from LaNova’s proprietary ADC platform. LM-305 has the potential to become a first-in-class GPRC5D-targeting ADC, with IND approvals in the United States and China.