FAST NEWS: Antengene Acquires Full Interest in Anti-Tumor Cancer Drug
The latest: Biopharmaceutical company Antengene Corp. Ltd. (6996.HK) said on Wednesday it has agreed to acquire the remaining interest it doesn’t already hold in the anti-tumor drug ATG-037 from Calithera Biosciences (CALA.US), giving it ownership of all related patent materials.
Looking up: While no terms of the agreement were disclosed, Antengene will no longer need to make any future milestone or royalty payments to Calithera.
Take Note: Exclusive ownership of ATG-037 means Antengene has to bear the clinical trial, development and commercialization costs of ATG-037 alone unless it finds other development partners.
Digging Deeper: In May 2021, Antengene entered into a worldwide exclusive licensing agreement with Calithera to develop and commercialize ATG-037, including an initial upfront payment to Calithera and future milestone and royalty payments based on the drug’s development. ATG-037 is an oral inhibitor of CD73, a small molecule that triggers immunosuppression in the tumor microenvironment by interfering with the anti-tumor immune response through the production of adenosine. Its Phase 1 clinical trial application for the treatment of locally advanced and metastatic solid tumors was approved in China last November, but is expected to face a long road to commercialization.
Market Reaction: Antengene shares jumped on Thursday to close up 9.8% at HK$5.96 by the midday break. The stock now trades in the middle of its 52-week range.
Translation by Jony Ho
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