China's ADC Boom: Emerging as the Global Innovation Hub for Big Pharma Amid Weak Domestic Deal Activity

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The speed and quality of ADC innovation in China are globally recognized.，Overseas large pharmaceutical MNCs and biotechs are rushing to China to seek candidate molecules. However, due to funding shortages or conservative approaches, the primary and secondary pharmaceutical markets in China remain sluggish, and the internal circulation transactions of ADCs among domestic pharmaceutical companies are pitifully few.

• Stepping Out of Stealth Mode: MabCure Biologics, with Two Major ADC Licensing Deals in a Row;

• China's ADC Newcomer, Just Closed a $1 Billion Deal；

• Merck's Introduced Chinese ADC Shows Positive Efficacy in Phase II Lung Cancer and Phase III Breast Cancer Trials;

• Founded by Chinese: biotceh listed in the U.S., ADC introduced from China；

• Raking in Nearly $400 Billion! A Review of 25 ADC Overseas Events;

• Roche/Yilian Biotech: cMET-Targeted ADC Completes First-Patient Dosing in Phase I Clinical Trial in the U.S.；

• ADC Newcomer | ZKHYY's Second Globally Innovative ADC Approved for U.S. Clinical Trials;

• Hong Kong Stock Leader: Innovent Biologics Has Deployed 10+ ADCs；Etc.

PharmaCircleLearned: ADC Newcomer from Shanghai, ChinaPuzhong Discovery(Multitude Therapeutics) has recently partnered withAdcendo ApSAnnounce that the two parties have reached a licensing agreement on ADCE-T02 (Puzhong Discovery's R&D code AMT-754), a novel, highly differentiated antibody-drug conjugate (ADC) targeting tissue factor (Anti-TF). ADCendo will obtain exclusive global development and commercialization rights outside of Greater China, while Puzhong Discovery Pharmaceutical Technology (Shanghai) Co., Ltd. will retain the development and commercialization rights in the Greater China region (including mainland China, the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan region).

In this transaction, Puzhong Discovery will receive an upfront payment of tens of millions of US dollars. Upon achieving subsequent development, regulatory, and commercial milestones, the company will receive total milestone payments exceeding 1 billion US dollars, as well as tiered royalties in the single-digit to low double-digit percentages based on global net sales (excluding Greater China).

ADCE-T02 is a novel, highly differentiated anti-TF ADC with a unique antibody design that mitigates its impact on the coagulation pathway. It was developed using the T1000-exatecan linker-payload technology platform. ADCE-T02 has been submitted for clinical trial application in Australia and is expected to file for U.S. IND approval in the near future.

The transaction counterparty, Adcendo ApS, is dedicated to developing breakthrough antibody-drug conjugates (ADCs) for the treatment of rare cancers. In 2024, the company completed an extension of its Series A financing round, raising a total of 98 million euros to advance, expand, and accelerate the development of its novel target ADC pipeline. Investors include Novo Holdings, Ysios Capital, Pontifax Venture Capital, RA Capital Management, HealthCap, Gilde Healthcare, and Dawn Biopharma, a platform company controlled by KKR.

(Related Reading:Rapidly Advancing ADC Company, This Emerging Biotech in China Initiates IPO）

Currently: Puzhong Discovery Pharmaceutical Technology(Shanghai) Co., Ltd. currently has several ADC pipelines under development, including 3 ADC pipelines with novel targets. The research and development or collaboration targets include: HER2, TROP2, FRα, HER3, CD44v9, MUC18, and CDH6 (licensed).ADCendo: First Patient Dosed in Phase I Clinical Trial of ADC Drug Targeting CDH6); PTK7, DLL-3 (Related ReadingHeavyweight ADC, MabCure Bio licenses to Zai Lab); as well as bispecific ADCs, etc.

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Existing investment institutions include investors such as Genesis Capital, Northern Light Venture Capital, Kaitai Venture Capital, Loyal Valley Capital, and M Ventures (Merck Corporate Strategic Investment Fund).

This article is intended to provide scientific information to healthcare professionals only and does not represent the platform's position.

Reference:

NMPA/CDE；

Pharnex Cloud Data www.pharnexcloud.com；

FDA/EMA/PMDA；

www.multitudetherapeutics.com；

MT-562, a novel HER3-targeting antibody drug conjugate, demonstrates a potential to broaden therapeutic opportunities for HER3-expressing tumors；

 https://mp.weixin.qq.com/s/NDIJXekjc_XJD3T2DNgD8g；

https://adcendo.com/adcendo/our-science/what-are-adcs/；

https://adcendo.com/adcendo-aps-announces-option-license-agreement-with-duality-biologics-to-enhance-optionality-to-further-expand-first-in-class-adc-pipeline/；

Weng, W., et al., Antibody-Exatecan Conjugates with a Novel Self-immolative Moiety Overcome Resistance in Colon and Lung Cancer. Cancer Discov, 2023. 13(4): p. 950-973.；

MOLECULARCANCER THERAPEUTICS journal, novel PTK7ADC —— MTX-13;

Relevant companies public disclosure; etc.