Merck Secures Global Rights to LaNova's PD-1/VEGF Bispecific Antibody LM-299 in $3.3 Billion Deal

Nov 14, 2024 20:03 CST Updated 20:03

MSD

Pharmaceutical R&D and Manufacturer

On November 14, MSD$588 Million Upfront, $2.7 Billion in Milestone Payments for MSD's Acquisition of Lixin Pharmaceutical's PD-1/VEGF Bispecific Antibody LM-299，Obtain the drugGlobal Exclusive Rights,The total transaction amount is up to 3.3 billion US dollars.The transaction is expected to be completed in the fourth quarter.。

LM-299 (PD-1/VEGF Bispecific Antibody)

LM-299 is a PD-1/VEGF bispecific antibody independently developed by Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. As a single agent, it can simultaneously block the PD-1/PD-L1 and VEGF/VEGFR signaling pathways, thereby achieving a synergistic anti-tumor mechanism based on "tumor immunity + anti-angiogenesis."

LM-299 can be combined with various therapeutic modalities, including cancer immunotherapy drugs, small-molecule targeted drugs, antibody-drug conjugates, and T-cell activators, which are expected to significantly expand the market potential of LM-299-based combination therapies.Currently, the Phase I clinical trial of LM-299 is actively enrolling participants.。

In recent years, Merck & Co., Inc. has been actively expanding its product portfolio to reduce reliance on a single drug, Keytruda.

- In 2023, Merck & Co., Inc. paid nearly $1 billion to acquire Prometheus Biosciences Inc., a company that produces treatments for autoimmune diseases, and signed a cancer drug collaboration agreement worth up to $22 billion with Daiichi Sankyo Co.

- In 2021, Merck & Co., Inc. acquired Acceleron Pharma Inc. for $1 billion, a company that owns a drug for rare lung diseases.

Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. has continuously achieved milestones within just four and a half years of its establishment.3 ProductsAuthorized to large multinational pharmaceutical companies, becoming one of the very few Chinese biotech companies in the industry whose entire overseas product portfolio is in collaboration with multinational pharmaceutical giants.

LM-302Achieve$1.1 Billion License Out Deal

On May 6, 2022, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. and Turning Point(Has been acquired by BMS)Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. has reached an $1.1 billion license out deal for LM-302 (BMS-986476, TPX-4589), marking the beginning of China's CLDN 18.2-related new drug assets going global.

Currently, the Phase III registrational clinical trial of LM-302 has been initiated in China in the first quarter of 2024, with its development progress ranking among the top three globally within similar programs. In addition, the Phase II clinical trial of LM-302 in combination with a PD-1 monoclonal antibody is also actively underway.

LM-305Global rights licensed to AstraZeneca

On May 12, 2023, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. announced an exclusive licensing agreement with AstraZeneca for the global development and commercialization rights of LM-305, a GPRC5D-targeted antibody-drug conjugate (ADC). This project represents a potential first-in-class ADC molecule currently in the preclinical stage. The total value of this transaction is $600 million, with Lixin Pharmaceutical receiving $55 million as upfront and near-term milestone payments, up to $545 million in development and commercialization milestone payments, and tiered sales royalties based on global net sales.

Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. has established several differentiated innovative drug pipelines.In terms of the product pipeline, the most advanced is LM302. LM-302 (anti-CLDN18.2 ADC) has entered Phase III pivotal clinical trials in China;LM-108 (anti-CCR8 monoclonal antibody) is in Phase II clinical trials;LM-101 (anti-SIRPα monoclonal antibody), LM-305 (anti-GPRC5D ADC), LM-299 (anti-PD-1/VEGF bispecific antibody), and LM-24C5 (anti-CEACAM5/4-1BB bispecific antibody) are all in Phase I clinical trials.

In addition,Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. recently completed a C1 round of financing worth 300 million yuan., will accelerateThe advancement of its multiple clinical-stage pipelines.

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