On May 02, 2016 Progenics Pharmaceuticals, Inc. (Nasdaq:PGNX) reported that it has granted an exclusive license to Bayer for the development and commercialization of therapeutic antibodies combining the Company’s prostate specific membrane antigen (PSMA) antibody technology with Bayer’s targeted thorium conjugate technology (Press release, Progenics Pharmaceuticals, MAY 2, 2016, View Source [SID:1234511743]). Schedule your 30 min Free 1stOncology Demo! "While there have been recent advances in the treatment of prostate cancer, there remains a great need for therapies that can more specifically target primary and metastatic prostate cancer," said Mark R. Baker, Chief Executive Officer of Progenics. "This license agreement with Bayer further validates the value of our PSMA antibody technology in the development of targeted cancer treatments. We are pleased that Bayer recognizes the potential of our technology."
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PSMA is a protein that has been found to be amplified on the surface of >95% of prostate cancer cells and is a validated target for the detection of primary and metastatic prostate cancer. Antibody-thorium conjugates are comprised of a radioactive alpha emitter, thorium-227, linked to an antibody, in this case PSMA. The thorium conjugates bind to the surface of tumor cells and emit alpha particles that destroy tumor cells by inducing DNA double-strand breaks, with no need for uptake into the cells for efficacy.
Per the terms of the license agreement, Progenics will receive an upfront fee and could receive additional potential clinical and regulatory development milestones. If approved, Progenics is entitled to single digit royalties and sales milestone payments.