LegoChemBio signs a license agreement to acquire a first-in-class antibody from Elthera
LegoChemBio
signs a license agreement to acquire a first-in-class antibody from Elthera
- Preclinical results
demonstrate the differentiation in efficacy and safety of this first-in-class
candidate
- LegoChemBio to
advance this potentially fifth LegoChemBio platform-generated ADC candidate into
clinic
LegoChem Biosciences Inc. (141080KS, hereinafter
“LegoChemBio”) announced on February 13, 2023 a license agreement with Elthera
AG, a biotechnology company in Switzerland, to develop and commercialize a
novel antibody-drug conjugate (ADC) therapy using a monoclonal antibody
developed by Elthera.
The licensed asset is a monoclonal antibody
with a target expressed in a variety of solid tumors including pancreatic,
ovarian, breast, lung, and colorectal cancer. Under the terms of the agreement,
LegoChemBio will be responsible for the future development and
commercialization of any products incorporating this antibody.
Elthera will receive an upfront payment and
is eligible to receive progress-dependent development and regulatory milestone
payments as well as cumulative commercial milestone payments. Elthera will
additionally receive royalties on net product sales.
“We are very pleased to enter into this license agreement with
LegoChemBio, a global ADC company with industry-leading ADC technology,” said
Anne Schmidt, CEO of Elthera. “This agreement is the result of a fruitful
collaboration with LegoChemBio, demonstrating the outstanding quality and
therapeutic potential of our antibody. The combination with LegoChemBio’s
ConjuAll technology generates a well-differentiated first-in class ADC with a
wide therapeutic window that has the potential to provide new treatment options
for a large number of solid tumors.”
“We are pleased to enter this agreement
with Elthera as we continue to expand our toolbox to maximize the value of our
ADC platform. We look forward to bringing this innovative ADC drug into the
clinic as LCB’s fifth ADC,” said Dr. Yong-Zu Kim, CEO of LegoChemBio.
About LegoChem
Biosciences
LegoChem
Biosciences (LCB, KOSDAQ: 141080) is a clinical-stage biopharmaceutical company
focusing on the development of next-generation novel therapeutics utilizing its
proprietary medicinal drug discovery technology LegoChemistry and ADC platform
technology ConjuAll™. Since its foundation in 2006, LCB has focused on
the research and development of Antibody-Drug-Conjugates (ADCs), anticancer
therapeutics, antibiotics and anti-fibrotic based on proprietary platform
technologies.
About Elthera
Elthera AG, a privately held biotechnology company
based in Switzerland, is developing first in class antibodies for the diagnosis
and treatment of patients with cancer, using a personalized health care
approach. Elthera has received funding from the European Union's Horizon 2020
research and innovation programme under the grant agreement No 858753 and
co-funding by the Innosuisse-Swiss Innovation Agency and the European Union
under the Eurostars project E!114014