LaNova Medicines, AstraZeneca sign $600m worth licensing deal for LM-305
LaNova Medicines has signed an exclusive license deal worth over $600 million for its pre-clinical stage antibody drug conjugate (ADC) called LM-305 with AstraZeneca.
LM-305 is designed to target G protein-coupled receptor, class C, group 5, member D (GPRC5D).
The antibody drug conjugate consists of an anti-GPRC5D monoclonal antibody, a cytotoxic payload monomethyl auristatin E (MMAE), and a protease-degradable linker.
As per the terms of the licensing deal, AstraZeneca will gain an exclusive global license for researching, developing, and commercializing LM-305.
LaNova Medicines will be entitled to getting upfront and near-term payments of up to $55 million and further development and commercial milestone payments of up to $545 million, apart from tiered royalties on global net sales.
Nina Shah — AstraZeneca Global Head of Multiple Myeloma, Haematology R&D, 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.”
According to LaNova Medicines, LM-305 is the second product to evolve from the company’s proprietary ADC platform.
LM-305 can potentially turn out to be a first-in-class GPRC5D-targeting ADC, with investigational new drug (IND) approvals in the US as well as China, said the Shanghai-based biotech company.
Dr. Crystal Qin — LaNova Medicines Founder, Chairman, and CEO said: “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.”