09.08.23
Biocytogen Pharmaceuticals Co., Ltd., a global biotech company focusing on the discovery of antibody therapeutics, entered into an antibody evaluation, option and license agreement with Myricx Bio, a UK biotech company focusing on a completely novel class of selective cytotoxic payloads for antibody drug conjugates (ADCs).
Myricx will provide its linker and payload and Biocytogen will conjugate them with its RenMice-derived fully human antibodies to make ADCs. Biocytogen will carry out feasibility tests, and upon option exercise, Myricx will be responsible for further development and commercialization.
Biocytogen will receive an upfront payment and, subject to exercise, Biocytogen will be eligible to receive ongoing development and commercialization milestone payments, as well as royalties on net sales.
"Thanks to Myricx recognition of our antibody assets, preclinical discovery expertise and CMC capabilities,” said by Yuelei Shen, President and CEO of Biocytogen. “Myricx is a leading expert in NMTi payloads and we believe that the combination of both companies’ strengths will result in ADC drugs with first-in-class and best-in-class potential.”
Myricx CEO Robin Carr, said, “We are delighted to have reached this agreement with Biocytogen with ground-breaking technology to develop novel antibodies for use in drug development. We believe that the combination of its antibody with our novel NMTi-based selective cytotoxic payloads will enable us to develop best-in-class ADCs to meet significant clinical needs in oncology. NMT inhibitors represent a novel class of ADC payloads that can be exploited as targeted therapies in cancer. Based on our positive proof of concept data we believe that ADC-NMTi offers huge potential for selective cancer cell killing via its unique mechanism of action.”
Myricx will provide its linker and payload and Biocytogen will conjugate them with its RenMice-derived fully human antibodies to make ADCs. Biocytogen will carry out feasibility tests, and upon option exercise, Myricx will be responsible for further development and commercialization.
Biocytogen will receive an upfront payment and, subject to exercise, Biocytogen will be eligible to receive ongoing development and commercialization milestone payments, as well as royalties on net sales.
"Thanks to Myricx recognition of our antibody assets, preclinical discovery expertise and CMC capabilities,” said by Yuelei Shen, President and CEO of Biocytogen. “Myricx is a leading expert in NMTi payloads and we believe that the combination of both companies’ strengths will result in ADC drugs with first-in-class and best-in-class potential.”
Myricx CEO Robin Carr, said, “We are delighted to have reached this agreement with Biocytogen with ground-breaking technology to develop novel antibodies for use in drug development. We believe that the combination of its antibody with our novel NMTi-based selective cytotoxic payloads will enable us to develop best-in-class ADCs to meet significant clinical needs in oncology. NMT inhibitors represent a novel class of ADC payloads that can be exploited as targeted therapies in cancer. Based on our positive proof of concept data we believe that ADC-NMTi offers huge potential for selective cancer cell killing via its unique mechanism of action.”