Regeneron and ModeX Therapeutics Forge $1B+ Collaboration to Advance Multispecific Antibody Pipeline

October 29,Weston, Massachusetts — ModeX Therapeutics, a subsidiary of OPKO Health (NASDAQ:OPK), announced that it has entered into an agreement with Regeneron (Regeneron) to enter into a licensing and collaboration agreement to discover and develop multispecific antibodies for various mutually interesting therapeutic indications. The collaboration will utilize ModeX's MSTAR platform andRegeneronproprietary binders to develop multi-specific antibody candidates targeting multiple different biological pathways in a single molecule.

According to the terms of the agreement, ModeX will receive an upfront payment of $7 million, as well as potential product option payments, clinical and regulatory milestone payments, and commercial milestone payments exceeding $200 million for each selected molecule. If multiple products from the collaboration are successful, the total value of the partnership could exceed $1 billion. Additionally, ModeX is eligible to receive tiered global net sales royalties, with the highest tier reaching double digits.RegeneronWill fund and lead any preclinical, clinical development, and commercialization activities for any products it chooses to advance.

Gary Nabel, Ph.D., President and Chief Executive Officer of ModeX Therapeutics and Chief Innovation Officer of OPKO Health, Inc., stated:"This agreement enables us to collaborate with the world leader in antibody drug developmentRegeneron"Closely collaborate to explore the potential of multispecific antibodies in new indications such as immunology, oncology, and metabolic diseases. The mission of ModeX Therapeutics is to develop innovative antibodies that identify multiple targets within a single molecule to treat life-threatening diseases."

Elias Zerhouni, M.D., President and Vice Chairman of OPKO, stated:"We have greatly expanded the therapeutic potential of antibodies through the MSTAR platform. Our candidate antibodies have entered the clinical trial stage, offering a unique combination of disease targets and reliable production. We believe that, in collaboration withRegeneronThe excellent teamwork will advance the development of multispecific antibodies in a series of selected indications across several disease areas of high interest to both parties."

George D. Yancopoluos, M.D., Ph.D., Co-Founder, President, and Chief Scientific Officer of Regeneron, said:"AndRegeneronSimilarly, ModeX Therapeutics, Inc. has a team of scientist-entrepreneurs who think creatively about science and technology. ThroughRegeneronCombining expertise in drug development with ModeX's multispecific antibody platform, we areRegeneron"Building on our longstanding work in bispecific and multispecific antibodies, we aim to increase our vaccination capacity by identifying more candidates more quickly, potentially aiding patients across multiple disease categories."

Beyond Bispecifics: ModeX Synergistic Targeting of Antibody Receptors (MSTAR)

Multispecific antibody therapies can help generate future drugs by simultaneously targeting three or more disease pathways. Many untreatable or complex diseases are caused by multiple disease pathways; however, most drugs only act on a single target. ModeX overcomes these challenges by creating unique multispecific drugs that combine natural protein structures using a platform called ModeX Antibody Receptor Synergistic Targeting (MSTAR). This platform generates multispecific antibodies from modular building blocks, designed to modulate potency and maximize specificity to simultaneously address multiple disease pathways.