BEIJING–(BUSINESS WIRE)–Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”, HKEx: 02315), a global biotechnology company focused on the discovery of novel antibody therapeutics, announced today that Signed Antibody Evaluation, Option and Licensing Agreement in collaboration with British biotechnology company Myricx Bio (“Myricx”) focused on the discovery and development of a novel class of antibody-drug conjugates (ADCs) with selective cytotoxic payloads.
Under the terms of the agreement, Myricx will provide its proprietary connector and payload, which Biocytogen will combine with its RenMice®– Derivation of fully human antibodies to manufacture ADCs. Biocytogen will serve as a CRO service for the feasibility testing of these ADCs, and upon exercise of the option, Myricx will be responsible for further development and commercialization. Biocytogen will receive an upfront payment and, depending on execution, Biocytogen will be eligible to receive ongoing development and commercialization milestone payments, as well as single-digit royalties on net sales.
In this project, the antibodies developed by Biocytogen were screened not only for their high specificity, cross-species reactivity, high affinity and good developability, but also for their high internalization activity specifically for ADC use.
NMT is an enzyme that adds specific lipid modifications to many protein targets critical to cancer cell survival. Myricx is developing a portfolio of ADCs to address critical unmet needs in oncology based on its NMT Inhibitor (NMTi) payload chemistry platform and has demonstrated excellent preclinical activity across multiple solid tumor-associated antigens and cancer cell types efficacy and safety.
“We thank Myricx for recognizing our antibody assets, preclinical discovery expertise and CMC capabilities,” Dr. Shen Yuelei, President and CEO of Biocytogen, said. “Myricx is a leading expert in NMTi payloads and we believe the combination of the strengths of both companies will result in ADC drugs with first-in-class and first-in-class potential. “
Dr. Robin Carr, CEO of Myricx, said: “We are pleased to enter into this agreement with Biocytogen to leverage breakthrough technology to develop novel antibodies for drug development. We believe that the combination of its antibody with our novel NMTi-based selective cytotoxic payload will allow us to develop a first-in-class ADC to address a significant clinical need in oncology. NMT inhibitors represent a novel class of ADC payloads that can be used as targeted cancer therapies. Based on our positive proof-of-concept data, we believe that ADC-NMTi offers great potential to selectively kill cancer cells through its unique mechanism of action. “
About Biocytogen
Biocytogen (HKEx: 02315) is a global biotechnology company that promotes the research and development of novel antibody drugs with innovative technologies. Using its proprietary RenMab™/RenLite®/person nano® Biocytogen has integrated its mouse platform for fully human monoclonal, bispecific/multispecific antibody and nanobody development live A drug screening platform and strong clinical development expertise streamline the entire drug development process. Biocytogen is working on a large program to develop first-in-class and/or first-in-class antibody drugs for more than 1000 targets called Project Integrum (RenMice™ HiTS platform). As of June 30, 2023, 50 therapeutic antibody co-development/out-licensing/assignment agreements and 42 target-nominated RenMice™ licensing programs have been established globally, including multiple partnerships with multinational pharmaceutical companies (MNCs) relation. Biocytogen’s pipeline consists of 10 core assets and has established partnerships for several clinical assets. Biocytogen is headquartered in Beijing, with branches in China (Jiangsu Haimen, Shanghai), the United States (Boston, San Francisco), Germany (Heidelberg). For more information, please visit http://en.biocytogen.com.cn.
About Myricx Bio – www.myricxbio.com
Myricx Bio (“Myricx”) is a UK biotechnology company focused on the discovery and development of a novel class of antibody-drug conjugate (ADC) selective cytotoxic payloads based on inhibitors nitrogen– Myristoyltransferase (NMT) is used in the treatment of cancer.
NMT is an enzyme that adds specific lipid modifications to many protein targets critical to cancer cell survival. Myricx is developing a portfolio of ADCs to address critical unmet needs in oncology based on its NMT Inhibitor (NMTi) payload chemistry platform and has demonstrated excellent preclinical activity across multiple solid tumor-associated antigens and cancer cell types efficacy and safety.
Headquartered in London, Myricx was spun out of Imperial College London and the Francis Crick Institute, and is backed by Sofinnova Partners and Brandon Capital Partners.
Myricx Bio is a trading name of Myricx Pharma Limited.
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