On December 18, 2023 Biocytogen Pharmaceuticals (Beijing) Co., Ltd. ("Biocytogen", HKEX: 02315), a global biotech company focusing on the discovery and development of novel antibody therapeutics, reported an antibody evaluation, option and license agreement with Ona Therapeutics ("Ona"), a Spanish biotech company specialized in unravelling novel biology to design biopharmaceuticals attacking advanced cancer (Press release, Ona Therapeutics, DEC 18, 2023, View Source;utm_medium=rss&utm_campaign=biocytogen-enters-into-antibody-agreement-with-ona-therapeutics-to-develop-antibody-drug-conjugates-targeting-solid-tumors [SID1234638648]).
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Under the terms of the agreement, Biocytogen will grant Ona access to evaluate Biocytogen’s proprietary RenMice-derived fully human antibodies against a specific tumor target, with an option to exclusively license selected antibodies for antibody-drug conjugate (ADC) development, manufacturing and commercialization in mutually agreed indications and territories.
Biocytogen will receive an upfront payment for granting the option, and will be further entitled to an option-exercise fee, development and commercialization milestone payments, as well as single-digit royalties on net sales once Ona elects to exercise the option in full.
Dr. Yuelei Shen, President and CEO of Biocytogen, said: "As part of Project Integrum, Biocytogen has been discovering fully human antibodies against 200 TAA targets based on their internalization activity. We are honored that Ona, among other global biopharmaceutical companies, recognizes the potential of our proprietary off-the-shelf antibodies. We believe Ona’s deep understanding of novel mechanisms of resistance in advanced cancer and their capabilities in ADC design and development will accelerate the development of our antibodies into promising therapeutics."
Dr. Valerie Vanhooren, CEO & co-founder of Ona, said: "We look forward to evaluating Biocytogen’s proprietary antibodies for ADC uses. We believe the combination of Biocytogen’s rich antibody repertoire with Ona’s unique insight in advanced cancer biology will have great advantages in the discovering and developing of first-in-class molecules for unmet medical needs."