Allorion scores second deal of the week in $1B pact with Avenzo
Phase 1License out/in
Avenzo Therapeutics gained its first clinical compound Thursday, in-licensing a cancer candidate from China-based Allorion Therapeutics.
Allorion will receive $40 million upfront and is eligible for development, regulatory and commercial milestones for both programs, which could total more than $1 billion, as well as tiered royalties.
AVZO-021 is in a Phase I trial to treat HR+/HER2 metastatic breast cancer and other advanced solid tumours.
According to AllorionAllorion, CDK2 is a prime target in HR+/HER2 breast cancer because it serves as a resistance mechanism to CDK4/6-targeting therapies. Plus, the enzyme has an oncogenic role in many cyclin E1 (CCNE1) amplified cancers.
The agreement marks Allorion’s second out-licensing deal this week. On Tuesday, AstraZeneca gained an exclusive option to globally license Allorion’s EGFR L858R mutated allosteric inhibitor to treat advanced EGFR-mutant non-small-cell lung cancer in a deal valued at over $500 million.
And the deal comes just months after BeiGene grabbed its own CDK2 inhibitor. In November, BeiGene agreed to pay up to $1.3 billion for Ensem Therapeutics’ oral compound, ETX-197.
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