DEALS AND FINANCING
Sutro entered a licensing deal with Tasly for Chinese rights for its STRO-002
Ahead of expected interim readout for STRO-002, Sutro Biopharma has granted Tasly Biopharmaceuticals rights in Greater China to the ADC targeting FOLR1, which is in Phase 1 testing to treat ovarian and endometrial cancers. Sutro received $40 million up front, and is eligible for $345 million in milestones, plus royalties.
Iksuda licenses global rights excluding Korea and China to HER2 ADC from LegoChem
British ADC company Iksuda Therapeutics will take LCB14, a HER2 ADC, into Phase 1 having licensed it from Korea’s LegoChem Biosciences. LegoChem is eligible for development, regulatory and commercial milestone payments, as well as royalties on commercial sales, but amounts were not disclosed. Iksuda’s rights to LCB14 are global, excluding Greater China and South Korea. The company has partnered with LCB previously, and its Korean investor base contributed to a $47 million series A last June.
Genmab and Synaffix entered into license agreement for ADC technology
Genmab has licensed the GlycoConnect, HydraSpace and toxSYN technologies of Synaffix for a single drug target, with the option for worldwide development and commercialization of any resulting ADCs. Genmab has an option to exercise exclusive research and commercial licenses for more targets. Synaffix received $4.5 million up front and is eligible for milestone payments for a total potential deal value of $415 million plus tiered, mid-single digit royalties.
ADC Therapeutics picks Mitsubishi Tanabe as local partner
Nine months after securing accelerated approval from FDA for Zynlonta loncastuximab tesirine-lpyl to treat relapsed or refractory large B cell lymphoma, ADC Therapeutics has partnered with Mitsubishi Tanabe Pharma in a deal giving the Japanese pharma local rights to the antibody-drug conjugate targeting CD19. ADC will receive $30 million up front in the deal and is eligible for $205 million in milestones, plus double-digit royalties.