Endeavor BioMedicines Acquires Global Rights to HMBD-501, a Next-Generation HER3-Targeted Antibody-Drug Conjugate (ADC) in Licensing Agreement with Hummingbird Bioscience

Hummingbird Bioscience ("Hummingbird Bio") and Endeavor BioMedicines ("Endeavor") jointly announced an agreement in which Endeavor will acquire the exclusive global rights to Hummingbird Bio's antibody-drug conjugate (ADC), HMBD-501. This agreement will grant Endeavor exclusive control over HMBD-501, a novel HER3-targeted ADC featuring an exatecan payload optimized for safety and effectiveness. As part of the deal, Hummingbird Bio stands to receive upfront and milestone payments potentially totaling up to $430 million, in addition to royalties on net sales.

"This exclusive license with Hummingbird Bio provides Endeavor with a potential best-in-class HER3-ADC, with the opportunity to treat a large number of patients in multiple tumor types. HER3 is more broadly expressed on tumors than HER2 and is expressed on tumors that do not express HER2. This next-generation ADC has the potential to address significant unmet clinical needs in areas left behind by HER2 agents."

HMBD-501 is an innovative ADC developed through Hummingbird Bio's proprietary antibody discovery and engineering platform and advanced ADC technologies, offering the promise of enhanced efficacy and safety compared to previous ADC generations. Notably, HMBD-501 targets a unique epitope on the HER3 receptor, allowing it to bind to HER3-expressing tumors even in environments with high levels of the NRG1 ligand, setting it apart from existing HER3 ADCs.

"Hummingbird Bio has designed HMBD-501 to have a wider therapeutic index than current HER3 ADCs, maximizing the potential clinical benefit for patients, and we are delighted that Endeavor has recognized the potential of this ADC built with our proprietary antibody technology. We are pleased to license HMBD-501 to the experienced Endeavor team to bring the molecule into the clinic and a step closer to benefiting patients."

HER3-positive tumors have shown positive responses to HER3-ADC therapeutic approaches. HMBD-501 is the result of combining Hummingbird Bioscience's antibody discovery and engineering platform with state-of-the-art ADC technologies, creating a potentially superior efficacy and safety profile compared to earlier-generation ADCs. Featuring essential proprietary technologies, HMBD-501 is positioned to be a leading HER3 ADC.

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