LaNova Medicines Ltd. announced it has entered into an exclusive license agreement with AstraZeneca, for LM-305, a pre-clinical stage antibody drug conjugate (ADC) targeting G protein-coupled receptor, class C, group 5, member D (GPRC5D).
Under the terms of the licensing agreement, AstraZeneca will be granted an exclusive global license to research, develop, and commercialize LM-305. LaNova Medicines is eligible to receive an upfront and near-term payments of up to $55 million and additional development and commercial milestone payments of up to $545 million, as well as tiered royalties on net sales worldwide.
"LaNova Medicines has a strong focus on discovering and developing innovative medicines in the ADC and Immuno-Oncology fields. We're excited to reach this agreement with AstraZeneca. With the potential to become a first-in-class GPRC5D-directed ADC for multiple myeloma, LM-305 exemplifies our innovative and robust platform for ADC development. This agreement is further recognition of our exceptional pipeline assets and R&D capabilities. We are confident that AstraZeneca is the ideal company to advance LM-305 for the betterment of patients globally." said Dr. Crystal Qin, founder, chairman, and CEO of LaNova Medicines.
Nina Shah, global head of multiple myeloma, haematology R&D, AstraZeneca, said: "We are pleased to have the opportunity to advance the development of LM-305, a novel GPRC5D-targeting antibody drug conjugate (ADC), as a potential new treatment option for relapsed/refractory multiple myeloma. LM-305 advances our leadership in ADCs and enriches our growing Haematology pipeline, helping us deliver against our broader ambition to transform clinical outcomes for patients living with blood cancers."
LM-305 is a novel GPRC5D-targeting antibody drug conjugate, consisting of an anti-GPRC5D monoclonal antibody, a protease-degradable linker, and a cytotoxic payload monomethyl auristatin E (MMAE). LM-305 is the 2nd product to emerge from LaNova's proprietary ADC platform. LM-305 has the potential to become a first-in-class GPRC5D-targeting ADC, with IND approvals in the United States and China.
Founded in September 2019, LaNova Medicines is a series B privately held biotech company headquartered in Shanghai with a global reach. The company focuses on discovering novel biologic drugs in the fields of ADC and Immuno-oncology, with a dedication to providing innovative therapies that have the potential to be best-in-class or first-in-class and address significant unmet medical needs.
