Elthera: License agreement with Korean LegoChemBio for cancer antibody-drug

LegoChem Biosciences Inc. (141080KS, hereinafter “LegoChemBio”) announced a license agreement with Elthera AG, a biotechnology company in Switzerland, to develop and commercialize a novel antibody-drug conjugate (ADC) therapy using a monoclonal antibody developed by Elthera.

The licensed asset is a monoclonal antibody with a target expressed in a variety of solid tumors including pancreatic, ovarian, breast, lung, and colorectal cancer. Under the terms of the agreement, LegoChemBio will be responsible for the future development and commercialization of any products incorporating this antibody.

Elthera will receive an upfront payment and is eligible to receive progress-dependent development and regulatory milestone payments as well as cumulative commercial milestone payments. Elthera will additionally receive royalties on net product sales.

“We are very pleased to enter into this license agreement with LegoChemBio, a global ADC company with industry-leading ADC technology,” said Anne Schmidt, CEO of Elthera. “This agreement is the result of a fruitful collaboration with LegoChemBio, demonstrating the outstanding quality and therapeutic potential of our antibody. The combination with LegoChemBio’s ConjuAll technology generates a well-differentiated first-in class ADC with a wide therapeutic window that has the potential to provide new treatment options for a large number of solid tumors.”

“We are pleased to enter this agreement with Elthera as we continue to expand our toolbox to maximize the value of our ADC platform. We look forward to bringing this innovative ADC drug into the clinic as LCB’s fifth ADC,” said Dr. Yong-Zu Kim, CEO of LegoChemBio.