DAEJEON, South Korea--(BUSINESS WIRE)--LegoChem Biosciences, Inc. (“LCB”) (KOSDAQ:141080) announced today that it has entered a research collaboration and license agreement with Takeda Pharmaceutical Company Limited (“Takeda”) for the development of antibody-drug conjugates in immuno-oncology.
Takeda gains certain rights to LCB’s antibody-drug conjugate (ADC) technology, ConjuAll, including LCB’s proprietary linker and conjugation platform, to research, develop and commercialize targeted immuno-oncology therapeutics. Under the terms of the agreement, Takeda has rights to use the LCB technology to develop therapeutics directed to up to three undisclosed targets.
LCB will receive $7.25 million in upfront and near-term milestone payments. In addition, LCB is eligible to receive development, regulatory and commercial milestone payments of up to $404 million as well as royalties on the sales of any resulting ADC products.
"We are delighted to collaborate with Takeda given its experience and expertise in oncology research and development. We believe this partnership provides further validation of our proprietary ADC platform technology that can be used for different oncology applications including immuno-oncology therapeutics," said Yong-Zu Kim, CEO of LCB. "Our goal is to demonstrate the competitiveness of LCB in the global ADC market by applying our linker and payload platform technologies to our own and our collaborators’ pipelines."
About LegoChem Biosciences
LegoChem Biosciences (KOSDAQ:141080) is a biopharmaceutical company focusing on the development of next-generation novel therapeutics utilizing its proprietary medicinal drug discovery technology LegoChemistry™ & ADC platform technology ConjuAll™. Since its foundation in 2006, LCB has focused on the research and development of ADC (Antibody-Drug-Conjugates), antibiotics, anticoagulants and anticancer therapeutics based on proprietary platform technologies.
ConjuAll™ is a next-generation ADC platform technology utilizing novel linker chemistry combined with site-specific enzymatic conjugation. Our platform provides solutions for site-specific conjugation, linker stability and efficient payload release which are three major unmet needs in ADC development.
MedCI LLC and Foley Hoag LLC, represented LCB in the transaction.