Biocytogen Pharmaceuticals (Beijing) Co., Ltd., a global biotech company focusing on the discovery and development of novel antibody therapeutics, announces an antibody evaluation, option and license agreement (the “Agreement”) with Ona Therapeutics (Ona), a Spanish biotech company specialized in unravelling novel biology to design biopharmaceuticals attacking advanced cancer.
Under the terms of the Agreement, Biocytogen will grant Ona access to evaluate Biocytogen’s proprietary RenMice-derived fully human antibodies against a specific tumour target, with an option to exclusively license selected antibodies for antibody-drug conjugate (ADC) development, manufacturing and commercialization in mutually agreed indications and territories.
Biocytogen will receive an upfront payment for granting the option, and will be further entitled to an option-exercise fee, development and commercialization milestone payments, as well as singledigit royalties on net sales once Ona elects to exercise the option in full.
Dr. Yuelei Shen, the chairman of the Board, chief executive officer and executive director of the company, said: “As part of Project Integrum, Biocytogen has been discovering fully human antibodies against more than 200 tumour-associated antigens (TAA) targets based on their internalization activity. We are honoured that Ona, among other global biopharmaceutical companies, recognizes the potential of our proprietary off-the-shelf antibodies. We believe Ona’s deep understanding of novel mechanisms of resistance in advanced cancer and their capabilities in ADC design and development will accelerate the development of our antibodies into promising therapeutics.”
Dr. Valerie Vanhooren, chief executive officer & co-founder of Ona, said: “We look forward to evaluating Biocytogen’s proprietary antibodies for ADC uses. We believe the combination of Biocytogen’s rich antibody repertoire with Ona’s unique insight in advanced cancer biology will have great advantages in the discovering and developing of first-in-class molecules for unmet medical needs.”
Biocytogen is a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies.
Ona, headquartered in the Barcelona Science Park (PCB), Barcelona, Spain, is a biotech company that specializes in unravelling novel biology to design first-in-class biopharmaceuticals attacking advanced cancer.
