Legochem Bioscience said that it has signed a research collaboration and license option agreement to develop an antibody-drug conjugate (ADC) treatment with Antengene Biologics, a Chinese biopharmaceutical company.
The two companies plan to discover ADC candidates using Antengene's antibodies and Legochem Bio's next-generation ADC platform technology.
If Antengene exercises the global development and commercialization option after confirming candidate material, LegoChem will receive up to 426.5 billion won ($363 million) in milestones and separate royalties according to the agreed-upon standards. In addition, LegoChem also has the right to revenue sharing when Antengene decides to license out the treatment to a third party.
"Through this cooperation, we will accelerate discovering and developing ADC candidates through Legochem, which possesses the best ADC technology, internal capabilities, and global anticancer drug development expertise, to achieve our vision of treating patients across borders," Antengene Biologics CEO Jei Mei said.
LegoChem President Kim Yong-zu also said, "The two companies will work closely together to rapidly develop new therapeutics that combines Antengene's oncology expertise with our ADC platform technology in the clinical validation stage."
The latest contract with Antengene has increased the number of LegoChem’s technology transfer agreements to nine, including three this year, in the ADC field.
The company expects to sign additional technology transfer agreements this year.