ImmuneOncia and 3D Medicines Signed Exclusive License Agreement to Develop, Manufacture and Commercialize IMC-002 in Greater China
30 Mar, 2021, 21:00 ET
- 3D Medicines to Lead the Manufacture, Clinical Development and Commercialization of IMC-002 for Oncology indications in Greater China
- ImmuneOncia to Receive potentially up to $470.5M including $8M Upfront, and Future Development and Commercial Milestone Payments, plus Tiered Royalties on Net Sales
SEOUL, South Korea, March 30, 2021 /PRNewswire/ -- ImmuneOncia Therapeutics, Inc., a clinical-stage, immuno-oncology company in South Korea, and 3D Medicines, Inc., a China-based biopharmaceutical company developing next-generation immuno-oncology drugs, today announced an exclusive license agreement for the development, manufacture and commercialization of IMC-002, ImmuneOncia's monoclonal antibody against CD47. The agreement includes uses of IMC-002 for oncology indication as a monotherapy or combination agent in the Territory of Greater China (Mainland China, Hong Kong, Macau, and Taiwan). ImmuneOncia will retain rights of IMC-002 in the rest of the world including the United States, European Union, and Japan.
Under the terms of the agreement, ImmuneOncia will receive an upfront payment of $8 million from 3D Medicines. Additionally, ImmuneOncia is eligible to receive up to $462.5 million upon the achievements of all future development and commercial milestones, plus tiered royalties up to double-digits on annual net sales of IMC-002 in Greater China. In exchange, 3D Medicines will receive rights to develop, manufacture and commercialize IMC-002 in Greater China. 3D Medicines is planning to file IND to NMPA in China this year.
"3D Medicines is an established leader in oncology, with a track record of successfully developing in-licensed oncology programs." said Yun Jeong Song, Chief Executive Officer of ImmuneOncia. "We are confident that 3D Medicines is the ideal partner as we enter into our collaboration and look forward to accelerating our delivery of IMC-002 to patients in Greater China."
"We are very pleased to enter into this exclusive collaboration with ImmuneOncia" said John Gong, M.D., Ph.D., Chairman and Chief Executive Officer of 3D Medicines. "We believe that IMC-002, used in combination with existing standard of care therapeutics or Envafolimab, an innovative subcutaneous PD-L1 antibody which we have just filed for marketing approval in China, could alter the treatment paradigm across various tumor types."
YAFO Capital (Shanghai) Co. Ltd. acted as financial advisor on this transaction for ImmuneOncia.
IMC-002 is a fully human IgG4 monoclonal antibody designed to block the CD47–SIRPα interaction in order to promote the phagocytosis of cancer cells by macrophages. According to its non-clinical results, it binds to human CD47 with an optimal affinity that maximizes efficacy without binding to RBCs or causing anemia which is often seen in other CD47 blocking agents under development. For more information about the Phase 1 clinical trial, visit clinicaltrials.gov, identifier number NCT04306224.
About ImmuneOncia Therapeutics, Inc.
ImmuneOncia is an immuno-oncology-centric biopharmaceutical company. Established in 2016 as a joint venture company between Yuhan Corporation in South Korea and Sorrento Therapeutics, Inc. in U.S. ImmuneOncia leverages both companies' expertise in drug development and antibody engineering. The company's mission is to bring safe, effective, and novel immunotherapies to oncology patients world-wide, and its portfolio includes diverse immune checkpoint antibodies. ImmuneOncia has successfully completed a Phase I study of IMC-001, its leading candidate anti-PDL1 antibody, and a Phase II study was initiated in 2H 2020.
For more information, please visit www.immuneoncia.com.
About 3D Medicine, Inc.
3D Medicines, Inc. is a biopharmaceutical company at the stage of late clinical development and early commercialization. With the concept "Help people with cancer live longer and better," aiming for the future long-term survival of tumor patients, 3D Medicines focuses on the development of differentiated next-generation immuno-oncology drugs, to help cancer patients live longer with better quality of life. 3D Medicines has built a pipeline with both innovative biological and small-molecule anti-tumor drugs, and a professional team with global development, registration and commercialization capabilities. For more information, please visit www.3d-medicines.com.
SOURCE ImmuneOncia Therapeutics, Inc.
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