KUALA LUMPUR, Dec 23 (Bernama) -- Adagene Inc (Adagene), a biopharmaceutical company, has announced achievement of a key milestone in its ongoing collaboration with Exelixis for development of novel masked antibody-drug conjugate (ADC) candidates leveraging Adagene’s proprietary SAFEbody precision masking technology.
Under the terms of a collaboration and licensing agreement established in early 2021, Adagene will receive a US$3 million milestone payment for successful nomination of lead SAFEbody candidates for one of its collaboration programmes. (US$1 = RM4.206)
“We are extremely proud of successfully providing lead SAFEbody candidates to Exelixis following the start of our collaboration earlier this year,” said Co-founder, Chief Executive Officer, and Chairman of Adagene, Peter Luo, Ph.D.
“Exelixis’ selection of these lead candidates further validates our proprietary SAFEbody technology and highlights the prowess of our overall DPL platform.”
Under the terms of the agreement, Adagene received an upfront payment of US$11 million and Exelixis can nominate two targets for development of SAFEbody candidates during the collaboration.
According to a statement, Adagene is eligible for development and commercialisation milestones, as well as royalties on net sales of products developed around each of these targets.
SAFEbody technology is designed to overcome safety and tolerability challenges associated with many antibody therapeutics by using precision masking technology to shield the binding domain of the biologic therapy.
This allows for improved tumor-specific targeting of antibodies, while minimising on-target off-tumor toxicity in healthy tissues, a longstanding challenge with many antibody therapeutics.
In addition to ongoing collaborations, Adagene also applies its SAFEbody technology to develop candidates for its wholly-owned deep, broad and differentiated pipeline.
More details at https://investor.adagene.com.
-- BERNAMA
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