AstraZeneca signs $63m agreement for gastric cancer treatment
AstraZeneca has announced that it has signed an exclusive licence agreement (ELA) with KYM Biosciences Inc for CMG901, which is an antibody drug conjugate (ADC) intended to treat gastric cancer.
The Cambridge, England-based big pharma will now be in charge of the research, development, manufacture and commercialisation of CMG901 worldwide.
Following the agreement, AstraZeneca will make an upfront payment of $63m to KYM Biosciences, as well as subsequent development and sales milestone payments up to $1.1bn, which KYM Biosciences will receive alongside tiered royalty payments.
The deal is expected to close in the first half of 2023, depending on closing conditions and regulatory clearances.
CMG901 is currently in a phase 1 trial to assess its efficacy at treating Claudin 18.2 positive solid tumours, including gastric cancer. Preliminary results appear positive, with some early signs of anti-tumour activity across the dose levels being evaluated.
Puja Sapra, senior vice president of Biologics Engineering and Oncology at AstraZeneca, commented: “We are excited by the opportunity to accelerate the development of CMG901, a potential new medicine for patients with Claudin 18.2-expressing cancers. CMG901 strengthens our growing pipeline of antibody drug conjugates and supports our ambition to expand treatment options and transform outcomes for patients with gastrointestinal cancers.”
Dr Bo Chen, chief executive officer of Keymed and board chairman of KYM Biosciences, added: “We are pleased to announce our agreement with AstraZeneca, a global biopharmaceutical company with leadership in developing and commercialising novel anti-cancer therapies. This is not only a recognition of CMG901, a potential first-in-class Claudin 18.2 ADC, but also Keymed’s internal discovery and development capabilities. The global scope of this agreement has the potential to benefit patients in China, and throughout the world.”