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Biocytogen and Ona Therapeutics Have Entered Into a Collaborative Agreement to Develop Antibody-drug Conjugates Targeting Solid Tumors

Monday, December 18, 2023

Biocytogen Pharmaceuticals (Beijing) Co., Ltd. ("Biocytogen") (HKEX: 02315) has recently entered into an agreement with Ona Therapeutics ("Ona"), a Spanish biotech company specializing in novel biology for the development of biopharmaceuticals targeting advanced cancer.

The agreement outlines that Biocytogen will provide Ona access to assess its proprietary RenMice®-derived fully human antibodies against a specific tumor target. Ona has the option to exclusively license selected antibodies for the development, manufacturing, and commercialization of antibody-drug conjugates (ADCs) in agreed-upon indications and territories.

Biocytogen is set to receive an upfront payment for granting the option, in addition to an option-exercise fee, development and commercialization milestone payments, and single-digit royalties on net sales once Ona exercises the option in full.

Dr. Yuelei Shen, President and CEO of Biocytogen, expressed enthusiasm about the collaboration, citing Biocytogen's ongoing Project Integrum, which focuses on discovering fully human antibodies against 200 TAA targets. Dr. Shen believes that Ona's expertise in novel mechanisms of resistance in advanced cancer and their proficiency in ADC design and development will expedite the progress of Biocytogen's antibodies into promising therapeutics.

Dr. Valerie Vanhooren, CEO & co-founder of Ona, looks forward to evaluating Biocytogen's proprietary antibodies for ADC applications. She anticipates that the combination of Biocytogen's diverse antibody repertoire and Ona's unique insights into advanced cancer biology will yield significant advantages in discovering and developing first-in-class molecules to address unmet medical needs.

 

Source: prnewswire.com

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