Pyramid Biosciences Expands Oncology Pipeline with In-Licensing of GQ1010, a Potential Best-in-class TROP2 Targeted Antibody Drug Conjugate (ADC), from GeneQuantum Healthcare

• GQ1010 preclinical profile demonstrates potential for differentiation vs other TROP2 ADCs
• Proprietary GeneQuantum platform provides single-step site-specific enzymatic conjugation and potential for superior linker-payload technology vs conventional ADCs

BRIDGEWATER, N.J., April 13, 2023 /PRNewswire/ -- Pyramid Biosciences, Inc., a privately-held, clinical-stage biotechnology company focused on developing transformative medicines for patients with cancer, today announced that it has entered into an exclusive license agreement with GeneQuantum Healthcare (Suzhou) Co. Ltd, a privately-held biotechnology company based in China, to develop and commercialize GQ1010, a potential best-in-class antibody drug conjugate (ADC) targeting TROP2, worldwide except for Greater China (mainland China, Hong Kong, Macau, and Taiwan). GQ1010 has shown a highly differentiated preclinical profile, and is anticipated to enter a first-in-human trial within the next 12 months.

"We are thrilled to be partnering with GeneQuantum in bringing this exciting asset, GQ1010, into the clinic," said Brian Lestini, M.D., Ph.D., Chief Executive Officer of Pyramid Biosciences. "By leveraging the unique features of the GeneQuantum bioconjugation platform and Pyramid's deep expertise in oncology drug development, this partnership significantly expands our growing oncology portfolio. This highly differentiated program has the potential to address substantial limitations of current ADCs and unmet needs for patients with TROP2-expressing tumors, a clinically validated target in oncology."

"GeneQuantum was founded with the goal of addressing critical unmet needs in global healthcare through the development of innovative technologies. GQ1010 highlights its best-in-class potential through GeneQuantum's cutting-edge technology in the development of differentiated bioconjugate drugs such as GQ1001, an anti-HER2 ADC, which has demonstrated a differentiated profile in Phase 1 data. We believe this agreement between GeneQuantum and Pyramid Biosciences represents the ideal partnership to rapidly advance the worldwide development of GQ1010, and to help patients overcome their cancer," said Qin Gang, Ph.D., Chief Executive Officer of GeneQuantum. "Our collaboration with Pyramid for global development of the GQ1010 program brings together the best of GeneQuantum's proprietary technology and Pyramid's extensive capabilities and track record of success in delivering transformative medicines to patients with cancer."

GQ1010 utilizes a unique site-specific conjugation technology and incorporates a novel linker-payload which may lead to improved stability, safety and potency of the ADC. Preclinical data suggests GQ1010 has a broader therapeutic margin compared to more advanced TROP2 ADCs, that may translate to an improved efficacy and safety profile for GQ1010. TROP2 is a cell surface glycoprotein that is highly expressed in a variety of tumors including breast, lung, pancreatic, ovarian, and prostate cancer, and plays a role in tumor cell proliferation.

Under the terms of the agreement, Pyramid Biosciences will develop and commercialize GQ1010 in exchange for an upfront payment of $20 million and up to an additional $1 billion of milestone payments. GeneQuantum would also be eligible to receive tiered royalties ranging from mid-single digit to low double digits on net sales.

About Pyramid Biosciences, Inc.

Founded in 2015, Pyramid Biosciences, Inc. is a New Jersey-based, clinical stage, biotechnology company dedicated to developing transformative medicines for patients with cancer. Pyramid focuses on programs that target clinically validated mechanisms and with potential best-in-class properties that can address areas of high unmet need in cancer. Pyramid's lead oncology program PBI-200, a highly CNS penetrant next-generation NTRK inhibitor is currently in a global Phase 1/2 clinical trial in patients with NTRK-fusion driven cancers, including primary and metastatic brain tumors. For more information, please visit www.pyramidbio.com.

Pyramid Biosciences Media Inquiries:
McDougall Communications on behalf of Pyramid Biosciences
[email protected]

Pyramid Biosciences Investor Inquiries:
Biren Amin, Pyramid Biosciences, CFO, and Chief Strategy Officer
[email protected]

SOURCE Pyramid Biosciences, Inc.