AstraZeneca pays $63 million upfront for a Phase 1 ADC targeting Claudin 18.2

PARTNERING

CMG901 expands AstraZeneca’s commitment in gastric cancer

AstraZeneca and KYM Biosciences have entered into a global exclusive license agreement for CMG901, an ADC targeting Claudin 18.2, a promising therapeutic target in gastric cancer. AstraZeneca will be responsible for the research, development, manufacture and commercialization of CMG901 globally. CMG901 is currently being evaluated in a Phase 1 clinical trial for the treatment of Claudin 18.2-positive solid tumors, including gastric cancer. Preliminary results from the Phase 1 trial have shown an encouraging clinical profile for CMG901, with early signs of anti-tumor activity across the dose levels tested. AstraZeneca will make an upfront payment of $63 million on transaction closing and additional development and sales-related milestone payments of up to $1.1 billion to KYM Biosciences as well as tiered royalties up to low double digits. The transaction is expected to close in the first half of 2023, subject to customary closing conditions and regulatory clearances. The transaction does not impact AstraZeneca’s financial guidance for 2023. KYM Biosciences is a joint venture established by affiliates of Keymed Biosciences and Lepu Biopharma. Currently there are five Claudin 18.2 targeting ADCs in Phase 1, including CMG901, and two are in Phase 1/2 trial, including Sotio’s SOT102 and TPX-4589 developed under collaboration between LaNova Medicines and BMS.

Cullinan licenses US rights to bispecific immune activator from Harbour BioMed 

Cullinan Oncology announced it  has entered into an exclusive license with Harbour BioMed for the development and commercial rights of HBM7008 (CLN-418) in the US. HBM7008 is a B7H4 x 4-1BB bispecific immune activator developed from next-gen heavy chain only antibody (HCAb)-based multi-specific antibody discovery platform HBICE, currently in a Phase 1 clinical study being conducted at US and Australian sites in patients with advanced solid tumors. Under the agreement, Cullinan Oncology will pay Harbour BioMed an upfront license fee of $25 million at closing for the exclusive right to develop and commercialize HBM7008 in the US Harbour BioMed will be eligible to receive up to $148 million in development and regulatory milestones plus up to an additional $415 million in sales-based milestones as well as tiered royalties up to high teens on potential US commercial sales.