Pharma Focus America

Nona Biosciences Enters Global Licensing Agreement with AstraZeneca for Development of Monoclonal Antibody into Unique Tumor-Targeted Treatments

Thursday, May 23, 2024

Nona Biosciences, a renowned biotechnology company specializing in shepherding ideas to IND (Investigational New Drug), covering target validation, antibody discovery, and preclinical research, has entered into a licensing agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) for preclinical monoclonal antibodies intended for crafting targeted oncology therapies.

According to the terms of the deal, Nona Biosciences will receive US$19 million upon completion of the transaction. Additionally, Nona stands to receive an extra US$10 million in potential near-term milestone payments and up to US$575 million upon achieving specified development, regulatory, and commercial milestones, along with tiered royalty payments based on net sales. Moreover, Nona may also receive payments for option programs if AstraZeneca exercises these options.

Expressing enthusiasm about the collaboration, Jingsong Wang, M.D., Ph.D., Chairman of Nona Biosciences, stated, "We are thrilled to announce this collaboration with AstraZeneca, global pioneers in developing targeted therapies for tumors, to maximize the potential of our innovative antibodies." Wang added, "This collaboration further validates our leading antibody discovery platform, and we eagerly anticipate witnessing our antibodies evolve into potential new treatments for cancer patients."

Puja Sapra, Senior Vice President of Tumour Targeted Delivery, Oncology R&D at AstraZeneca, remarked, "The global license agreement with Nona Biosciences presents an exciting opportunity to advance these antibodies, sourced from Nona's cutting-edge biologics discovery engine, into novel tumor-targeted therapies utilizing AstraZeneca's industry-leading capabilities."

 

Source: prnewswire.com

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