[Asia Economy Reporter Seo So-jung] LegoChem Biosciences announced on the 2nd that it has signed a global licensing agreement with the US-based Pixis Oncology for the development and worldwide rights (excluding Korea) of the antibody-drug conjugate (ADC) anticancer drug candidate 'LCB67'.
Through this agreement, LegoChem Biosciences is expected to receive a total of 325.5 billion KRW, including an upfront payment of approximately 10.5 billion KRW and milestone payments of 315 billion KRW, along with separate royalty payments. Additionally, the costs for the ongoing clinical trial material production will be fully reimbursed next year.
Separately, LegoChem Biosciences has secured an option to receive a portion of Pixis's shares and a share of profits from any third-party technology transfers in the future. LegoChem Biosciences plans to distribute the technology fee revenue to its antibody partner, Y-BioLogics, according to a pre-agreed ratio.
LCB67 is a novel anticancer drug candidate that combines LegoChem Biosciences' proprietary next-generation ADC platform technology with the DLK1 antibody introduced from Y-BioLogics in 2016. DLK-1 is a new tumor target for small cell lung cancer, liver cancer, and various solid tumors. Pixis plans to develop the drug targeting advanced solid tumors with high unmet medical needs.
Pixis is a Boston-based biotech company developing antibody-centered new anticancer therapies.
Kim Yong-joo, CEO of LegoChem Biosciences, said, "Pixis's key members are leading experts in the US who have successfully developed numerous new drugs," and added, "We expect efficient development of LCB67."
Pixis CEO Lara Sullivan stated, "Through this partnership, we will advance LCB67 into clinical stages as quickly as possible and strive to provide new treatments to many suffering patients."
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