SOTIO Biotech, a clinical stage immuno-oncology company owned by PPF Group, announced an exclusive, target-specific license and option agreement with LegoChem Biosciences, a biotechnology company focused on developing its clinical-stage platform technology enabling antibody-drug conjugates (ADCs) with an excellent therapeutic index. SOTIO will obtain rights to deploy LCB’s ADC technology for up to five therapeutic programs targeting distinct tumour-associated antigens.
The deal enables SOTIO to combine its proprietary antibodies with LCB’s ADC technology platform in order to deliver novel therapeutics for the treatment of solid tumours and includes LCB’s proprietary conjugation technology ‘ConjuAll’ and potent linker-payload platform including multiple different payloads.
Under the terms of the multi-target agreement, LCB is eligible to receive upfront and potential milestone payments worth up to $1027.5 million, payable based on certain developments and regulatory achievements, plus royalties on net sales. The deal includes upfront and near-term milestones worth up to $29.5 million, subject to exercise of the options and achievement of success-based milestones. No further financial details were disclosed.
“At SOTIO we are building an innovative pipeline of ADC programs and plan IND filing for our lead program SOT102 by the end of 2021. The licensing agreement with our new, experienced partner LegoChem allows us to broaden our oncology pipeline with additional programs and solid tumour targets. We are looking forward to using the potential of LegoChem’s ADC technology platform and to develop innovative ADCs for patients in need,” said Radek Spisek, M.D., Ph.D., chief executive officer of SOTIO.
SOTIO will be responsible for research, development, manufacturing and commercialization of the ADC products, while LCB will support and work closely with SOTIO for the research activities and the manufacturing of components that are specifically related to its proprietary ConjuAll and the linker-payload technologies.
Dr. Yong-Zu Kim, CEO and President of LCB added: “This collaboration is yet another example that illustrates how the value proposition of the LCB platform can increase the competitive position of our partners within the ADC space. SOTIO is an ideal partner for LCB due to its expertise and strategic focus on innovative antibody drug conjugates, and we look forward to working closely together on multiple innovative programs.”