2024.08.08
On July 31, 2024, Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”, stock code: 02315.HK), an international biotech company focusing on the discovery of novel antibody/ADC therapeutics, announced that it had entered into an option and license agreement with IDEAYA Biosciences, Inc. (Nasdaq: IDYA). IDEAYA is a clinical-stage precision medicine oncology company.
This agreement grants IDEAYA the option for an exclusive worldwide license from Biocytogen for a potential first-in-class B7H3/PTK7 topo-I-payload BsADC program. B7H3/PTK7 has been found to be co-expressed in multiple solid tumor types, including double-digit percent prevalence in lung, colorectal, head and neck cancers.
Under the terms of this agreement, Biocytogen will receive an upfront fee and upon an option exercise by IDEAYA, be entitled to receive an option exercise fee, development and regulatory milestone payments, commercial milestone payments and single-digit royalties on net sales. Total potential upfront, option exercise and milestone payments equal an aggregate of USD 406.5 million, including development and regulatory milestones of USD 100 million.
JunHe was entrusted by Biocytogen to review, modify, and negotiate the agreement for this project. JunHe’s efficient and meticulous work style and its dedicated and professional service attitude, earned the trust and recognition of the client.
Partner ZHAO, Hao (Gerry) led JunHe’s team in this project.
