LegoChem Biosciences and Amgen Enter into a Multi-Target Research Collaboration and License Agreement for the Development of Antibody-Drug Conjugates
DAEJEON, South Korea--(BUSINESS WIRE)--Dec 23, 2022--
LegoChem Biosciences, Inc. (‘LCB’) (KOSDAQ:141080) announced on December 23 that it has entered into a research collaboration and license agreement with Amgen, whereby it granted Amgen rights to research, develop, and commercialize ADCs directed against up to 5 targets selected by Amgen based on LCB’s proprietary ConjuAll ADC technology.
Under the terms of the agreement, LCB is eligible to receive up to USD 1.25 billion including upfront, development and commercial milestone payments, and is also eligible for tiered royalties as a percentage of worldwide commercial sales by Amgen.
LCB’s clinical-stage ConjuAll ADC technology platform provides optimized site-specific conjugation, as well as cancer-selectively activating linker and payload technologies for ADCs. It overcomes the limitations associated with conventional technologies that produce heterogeneous ADCs with its greater potency, safety and stability, and enables the development ADCs with a wider therapeutic window and improved manufacturability.
“Amgen has a proven track record of bringing transformative medicines to market, and we are pleased that they selected our ADC technology to integrate with their efforts to develop next-generation ADCs,” said Yong-Zu Kim, LCB’s President and CEO. “This licensing agreement demonstrates LCB’s continued recognition as an industry-leading ADC player and further enhances our ability to innovate through global partnership as we build out our pipeline and accelerate our transformation into a fully-integrated oncology company.”
LCB has continued to build a robust ADC licensing deal flow with 12 transactions completed with a cumulative deal volume of over USD 5 billion.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221223005034/en/
CONTACT: LegoChem Biosciences
Daeyoung Jeong
+82-42-861-0688
jdy@legochembio.com
KEYWORD: ASIA PACIFIC SOUTH KOREA
INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH ONCOLOGY
SOURCE: LegoChem Biosciences, Inc.
Copyright Business Wire 2022.
PUB: 12/23/2022 07:00 AM/DISC: 12/23/2022 07:01 AM
http://www.businesswire.com/news/home/20221223005034/en