Shanghai LaNova Medicines Research and Development Co Ltd

Pictured: AstraZeneca building/Bodo Marks/picture alliance/Getty Images As antibody-drug conjugates make a steady comeback, AstraZeneca strikes its second deal this year with a Chinese company. The Cambridge-based biopharma announced Friday it’s putting potentially $600 million on the line for LaNova Medicines’ preclinical stage ADC. The Shanghai-based biotech will score upfront payments of up to $55 million for LM-305, with an additional $545 million in potential milestones and tiered royalties. LM-305 has the potential to become a first-in-class GPRC5D-directed ADC for multiple myeloma, according to the press release. It comes to AstraZeneca with Investigational New Drug (IND) approvals already in place in the U.S. and China. The asset is a good fit for AstraZeneca since the company halted development of MEDI2228, an anti-BCMA ADC for multiple myeloma in 2021. AstraZeneca’s global head of multiple myeloma Nina Shah said in a statement that the LaNova deal “enriches our growing haematology pipeline.” AstraZeneca has experience in the space with its HER2-directed ADC, Enhertu, approved for unresectable or metastatic breast cancer in 2019, and later for gastric cancer and NSCLC. It’s the first HER2-directed treatment approved for NSCLC. Indications could continue racking up for the drug with 19 active studies currently listed on ClinicalTrials.gov. Developed in conjunction with Daiichi Sankyo, Enhertu made blockbuster status last year with sales over $1 billion. The ADC market has grown steadily over five years, reaching close to $7 billion in sales in 2022. AstraZeneca had already struck an ADC deal earlier this year for another Chinese-developed ADC. In February, the biopharma dropped $63 million upfront for global rights to KYM Biosciences’ potential first-in-class Claudin 18.2 ADC. CMG901 is currently in Phase I trials for Claudin 18.2–positive solid tumors. KYM has the chance to earn up to $1.1 billion in milestone payments in addition to royalties. LaNova also had an ADC targeting Claudin 18.2 in development that was scooped up by Turning Point Therapeutics in a deal for $220 million. The asset is now in the hands of Bristol Myers Squibb, since its $4.1 billion acquisition of Turning Point last summer. The ADC was granted orphan drug designation by the FDA for both gastric and pancreatic cancers and is positioned in BMS’ Phase I pipeline for advanced solid tumors. Eight ADCs were approved by the FDA between 2019 and 2022, making the technology an attractive option for lower-risk development for pharma companies expanding their pipelines via partnerships and acquisitions. Experts say the complexity of ADC development is another selling point as it reduces the chances of biosimilars hitting the market, allowing potential revenues to stay strong. Kate Goodwin is a freelance life science writer based in Des Moines, Iowa. She can be reached at kate.goodwin@biospace.com and on LinkedIn.

SHANGHAI, May 12, 2023 /PRNewswire/ -- LaNova Medicines Ltd. ("LaNova Medicines") announced today it has entered into an exclusive license agreement with AstraZeneca (LSE/STO/Nasdaq: AZN), for LM-305, a pre-clinical stage antibody drug conjugate (ADC) targeting G protein-coupled receptor, class C, group 5, member D (GPRC5D). Under the terms of the licensing agreement, AstraZeneca will be granted an exclusive global license to research, develop, and commercialize LM-305. LaNova Medicines is eligible to receive an upfront and near-term payments of up to $55 million and additional development and commercial milestone payments of up to $545 million, as well as tiered royalties on net sales worldwide. "LaNova Medicines has a strong focus on discovering and developing innovative medicines in the ADC and Immuno-Oncology fields. We're excited to reach this agreement with AstraZeneca. With the potential to become a first-in-class GPRC5D-directed ADC for multiple myeloma, LM-305 exemplifies our innovative and robust platform for ADC development. This agreement is further recognition of our exceptional pipeline assets and R&D capabilities. We are confident that AstraZeneca is the ideal company to advance LM-305 for the betterment of patients globally." said Dr. Crystal Qin, Founder, Chairman, and CEO of LaNova Medicines. Nina Shah, Global Head of Multiple Myeloma, Haematology R&D, AstraZeneca, said: "We are pleased to have the opportunity to advance the development of LM-305, a novel GPRC5D-targeting antibody drug conjugate (ADC), as a potential new treatment option for relapsed/refractory multiple myeloma. LM-305 advances our leadership in ADCs and enriches our growing Haematology pipeline, helping us deliver against our broader ambition to transform clinical outcomes for patients living with blood cancers." About LM-305 LM-305 is a novel GPRC5D-targeting antibody drug conjugate, consisting of an anti-GPRC5D monoclonal antibody, a protease-degradable linker, and a cytotoxic payload monomethyl auristatin E (MMAE). LM-305 is the 2nd product to emerge from LaNova's proprietary ADC platform. LM-305 has the potential to become a first-in-class GPRC5D-targeting ADC, with IND approvals in the United States and China. About LaNova Medicines Ltd. Founded in September 2019, LaNova Medicines is a series B privately held biotech company headquartered in Shanghai with a global reach. The company focuses on discovering novel biologic drugs in the fields of ADC and Immuno-Oncology, with a dedication to providing innovative therapies that have the potential to be best-in-class or first-in-class and address significant unmet medical needs. LaNova Medicines' expertise lies in the discovery and development of innovative biologic drugs. The company's robust portfolio of biologic drug candidates is made possible by an industry-leading R&D engine comprising of three distinct platforms: a proprietary antibody platform capable of consistent production of antibodies against a variety of targets such as multi-transmembrane proteins and GPCRs, a clinical stage next-generation ADC platform that harnesses proprietary payload and linker technologies to construct highly differentiated ADCs, and a modular 4-1BB based immune-cell-engager (ICE) platform that enables efficient creation of therapeutic bispecific antibody against different tumor-associated antigens (TAAs). LaNova Medicines' present pipeline consists of more than 10 innovative drug candidates. The company's leading clinical-stage programs include LM-302, a differentiated anti-Claudin 18.2 ADC licensed to Turning Point Therapeutics in 2022 for a total deal value of over 1 billion USD, LM-108, a potential best-in-class CCR8-targeting monoclonal antibody designed to address the unmet needs in PD-1 resistant cancer patients, and LM-101, an anti-SIRPα monoclonal antibody with strong potential to synergize with various anti-cancer agents such as anti-PD1 and ADC, all of which are currently being studied in Phase 1/2 studies. LaNova Medicines is dedicated to developing its portfolio for the benefit of patients around the world through internal R&D innovation and multifaceted external partnerships. For more information, please visit . SOURCE LaNova Medicines