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The agreement gives Biotheus access to Alligator’s antibody, Alligator-Gold, for the creation of up to three bispecific molecules.
Alligator Bioscience, a Swedish research-based biotechnology company focused on antibody therapeutics for cancer, announced on Aug. 20, 2019 that it is entering into a license agreement with Biotheus, a privately held Chinese company based in Zhuhai, Guangdong, China. The agreement gives Biotheus rights in Greater China to Alligator’s antibody, Alligator-Gold, for the creation of up to three bispecific molecules.
Alligator will receive $0.5 million upon signing and another $0.5 million after six months of scientific-technical evaluation. The agreement gives Alligator eligibility to receive upfront, milestones, and option fees up to a total of $142 million, which includes upfront and development milestones amounting to $52 million, global option fees up to $90 million, royalties on future sales, and a share of sublicense revenue.
“This agreement is a great recognition of our antibody library and our proven expertise in generating high affinity antibodies against TNFR family members, and this collaboration with an up and coming Chinese biotech firm like Biotheus gives us an entrance to the fast advancing life science market in China,” said Per Norlén, CEO of Alligator, in a company press release.
Source: Alligator Bioscience