LegoChem Bio may receive milestone payments next yr

...expectations rise on payments being made starting next year

10 products in the ADC pipeline licensed out...expected to receive milestone payments for 5 contracts next year

2nd generation ADC platform technology owned by LegoChem Bio

LegoChem Bioscience’s drug candidates that have been licensed out are making their way into clinical trials.

 

The company succeeded in making licensing deals for 10 antibody-drug conjugate (ADC) pipelines and is expected to start receiving milestone payments in earnest in line with their development progress.

 

◆Company may earn up to KRW 6.8 trillion if all 10 licensed-out ADC pipelines succeed in commercialization According to industry sources on the 29th, if the drug candidates licensed out by LegoChem Biosciences succeed in commercialization, the receptible milestone payments will amount to KRW 6.84 trillion at most.

 

The company has signed 10 licensing-out deals with other companies.

 

Recently, LegoChem Bio signed a technology transfer agreement with Amgen worth KRW 1.6 trillion.

 

LegoChem Bio had previously signed similar deals with Fosun Pharma, Takeda Pharmaceutical, Iksuda Therapeutics(3 deals), CStone, Pyxis Oncology, Antengene, and SOTIO Biotech.

 

In the deals made with Amgen, Iksuda Therapeutics.

 

Pyxis Oncology, Antengene, and SOTIO Biotech, the company has also secured the right to earn a share of the profit when the drug candidate is commercialized.

 

Its drug candidates that were licensed out are entering the clinical stage one after another.

 

This is raising expectations on the additional milestones that the company may receive in the future The industry expects 5 of the milestone payments deals to pay out next year.

 

2 of the 3 technology export deals the company made with Iksuda Therapeutics are expected to start global Phase I trials next year.

 

If global clinical trials are initiated, LegoChem Bio will receive a part of the milestone payments payable upon initiation of the trial.

 

For the other 1 deal made with Iksuda Therapeutics, Iksuda plans to submit a clinical trial protocol for 2 drug candidates.

 

If this trial is initiated, it will also allow LegoChem Bio to receive further milestone payments.

 

In the case of Takeda Pharmaceutical, the company plans to derive a drug candidate by next year.

 

SOTIO also plans to do the same within the next year.

 

If the two companies succeed in deriving drug candidates, LegoChem will receive milestone payments for each.

 

Also, expectations are rising on further milestone payments the company can receive after next year.

 

Fosun Pharma is conducting a Phase 1b trial for the anticancer drug candidate LCB14 LegoChem Bio licensed out to Fosun Pharma.

 

A Phase 1 trial is also underway for LCB71 as a treatment for solid cancer and blood cancer, which was licensed out to CStone.

 

◆Inks a technology transfer deal with the big pharma Amgen...proves technolgy LegoChem Bio signed a series of technology transfer deals with multinational pharmaceutical companies with its ADC platform technology based on its proprietary platform technology ‘ConjuAll’ and ‘LegoChemistry.’ ADCs are a class of cancer therapeutics that combines the advantage of antibody drugs that can distinguish tumor cells using an antigen-antibody response and the highly potent anticancer effect of chemical synthetic drugs.

 

The drugs have the advantage of being able to show high efficacy with low side effects compared to existing technologies.

 

ADCs are also evaluated to have good blood stability.

 

LegoChem Bio is being recognized for owning competitiveness in the field of ADC, as it owns a binding method that can be implemented with a single substance, a linker that can specifically release drugs to cancer cells, and drugs that only activate in cancer cells, etc.

 

In particular, the company’s recent licensing deal with the global big pharma Amgen has been raising expectations for more licensing-out deals to come in the future.

 

LegoChem Bio recently signed a deal to transfer its original ADC platform technology to Amgen and conduct joint research.

 

Under the deal, LegoChem Bio’s platform will be applied to 5 of Amgen’s antibodies to direct 5 targets.

 

The deal totals up to be worth KRW1.61 trillion.

 

If Amgen succeeds in commercializing the drug candidate, LegoChem Bio can separately receive profit.

 

Unlike the upfront payment, the details of the deal, such as the specific amount of milestone payments per development stage were not disclosed.

 

Until now, LegoChem Bio had mostly signed licensing-out deals with small and medium-sized global pharmaceutical companies.

 

The pharmaceutical industry has evaluated LegoChem Bio’s successful technology transfer deal made with the big pharma Amgen as proof of the company’s technological competitiveness.