 "Deals, mergers,")
Glenmark Pharmaceuticals' wholly owned subsidiary Ichnos Sciences, a clinical-stage oncology biotech, and Astria Therapeutics, a biopharmaceutical company developing therapies for allergic and immunological diseases, on Thursday announced an exclusive worldwide licensing agreement for Ichnos' OX40 antagonist monoclonal antibody portfolio.
Ichnos is set to receive $320 million upfront for development, regulatory and sales payments, coupled with low double-digit royalties. In addition, Ichnos has agreed to provide access to its existing investigational drug substance and drug product stocks at normalised costs to facilitate development.
The agreement grants Astria Therapeutics global rights to develop and commercialise the OX40 portfolio. This portfolio comprises Telazorlimab and its subsequent molecules intended for use in both inflammatory and immune diseases.
Telazorlimab, the flagship asset in Ichnos' portfolio, is an IgG1 monoclonal antibody engineered to target OX40 on T-cells, which is responsible for inflammatory and immune diseases. Excessive OX40 signalling, often found on activated T cells, is a common factor in various inflammatory conditions, including atopic dermatitis (AD).
Commenting on this, Cyril Konto, MD, President and Chief Executive Officer of Ichnos, stated, "This agreement enables our team to focus on advancing our robust pipeline of clinical-stage multispecific antibodies in oncology. I am proud of the work achieved by the Ichnos team in successfully completing Phase-IIb with Telazorlimab in atopic dermatitis and potentially opening up a new therapeutic class for this disease."
Jill Milne, PhD, co-founder and Chief Executive Officer of Astria Therapeutics, stated, "We are looking forward to building on the foundational work that Ichnos has done with their OX40 portfolio. We believe that by using Ichnos' monoclonal antibody OX40 antagonist and applying YTE half-life extension technology, we have the potential to deliver a profile for atopic dermatitis patients; one that we think can be safe, effective and long-acting. In addition to OX40 antagonism already being a clinically validated mechanism in atopic dermatitis, we also are excited about the opportunity for potential expansion into additional indications."
