GSK enters an option agreement to acquire rights to DB 1324 from Duality Biologics
Duality Biologics a clinical-stage biotech company focusing on the discovery and development of next-generation antibody-drug conjugate (ADC) therapeutics, announced that it has entered into an exclusive option agreement with GSK for a potentially best-in-class ADC candidate, DB 1324
Under the agreement, DualityBio will grant GSK an exclusive option to obtain a license to develop and commercialize DB-1324 worldwide (excluding mainland China, Hong Kong, and Macau) (the “Option”).
Under the terms of the agreement, GSK will pay $30 million upfront and additional pre-option milestone payments to obtain an exclusive option for exclusive worldwide rights for DualityBio’s ADC (excluding China’s mainland, Hong Kong, and Macau). Upon GSK exercising the Option, DualityBio will receive an option exercise fee as well as potential development, regulatory and commercial milestone payments totalling up to $975 million. Upon commercialisation, GSK will pay tiered royalties on DB 1324’s global net sales outside mainland China, Hong Kong, and Macau. GSK will receive royalties on net sales in mainland China, Hong Kong and Macau.
Hesham Abdullah, SVP, Global Head Oncology, R&D, GSK, said: “GSK has built a portfolio of novel antibody-drug conjugates underpinned by our deep expertise in tumour cell-targeting mechanisms. Given the unique ability of ADCs to address certain targets on tumour cells while sparing healthy ones, we are confident in our strategic focus on this modality as it could advance new therapeutic treatments for the most challenging tumour types.”
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