China's Innovent in $120M bispecifics partnership with EpimAb

China
Work

Suzhou-based Innovent Biologics has entered a $120 million partnership with Shanghai-based biotech startup EpimAb Biotherapeutics on bispecific antibodies, building on a landmark deal in the same space reached with Eli Lilly ($LLY) last year.

Under the terms, Innovent will buy the rights to EpimAb’s Fabs-In-Tandem Immunoglobulin, dubbed FIT-Ig, a proprietary platform to develop multiple bispecific antibodies for China, a press release explained. It will also get the rights to out-license outside of China in return for an upfront payment to EpimAb, with milestones potentially reaching $120 million before royalties and any earnings from license deals.

In October last year, Innovent expanded a blockbuster pact worth a potential $1 billion with Lilly for rights to as many as three anti-PD-1-based bispecific antibodies for cancer treatments over the next decade in Greater China, with the Indianapolis-based firm holding rights outside of the country.

Whitepaper

Simplify and Accelerate Drug R&D With the MarkLogic Data Hub Service for Pharma R&D

Researchers are often unable to access the information they need. And, even when data does get consolidated, researchers find it difficult to sift through it all and make sense of it in order to confidently draw the right conclusions and share the right results. Discover how to quickly and easily find, synthesize, and share information—accelerating and improving R&D.

In January of last year, Innovent raised $100 million in a financing round in what was seen as a milestone for the country's growing biotech industry.

EpimAb, in the release, said its platform generates bispecific antibodies that retain the biological properties of each mAb without major modifications needed to the structure.

“We are very pleased to have gained Innovent as our first licensee,” Chengbin Wu, CEO and founder of EpimAb said in a statement. “Innovent’s world class R&D and biologics CMC capabilities are perfectly suited to develop novel FIT-Ig bispecific antibodies."

- here's the release

Related Articles: 
Lilly and China's Innovent Biologics tie up on cancer drug candidates with $56M upfront
China's Innovent Biologics deepens pact with Eli Lilly on immuno-oncology

Suggested Articles

At one point, Novartis even offered up $90 apiece for the inclisiran developer but would later say even $85 was too much, a securities filing shows.

Sanofi spent months hyping its Tuesday investor event, and new CEO Paul Hudson certainly laid out a different vision for the drugmaker at the confab.

After more than 10 years as partners, Sanofi and Regeneron are splitting up their deal to comarket PCSK9 med Praluent and immunology drug Kevzara.