IM Biologics Licenses $925mn Antibody Treatment to Navigator Medicines
IM Biologics (CEO Gyongsik Ha) announced on June 17th that it has signed a licensing-out (L/O) agreement with Navigator Medicines, a US-based company, for ‘IMB-101,’ a bispecific antibody-based treatment for autoimmune diseases currently in Phase 1 clinical trials.
IMB-101, the lead pipeline of IM Biologics, targets OX40L and TNF simultaneously as a bispecific antibody candidate. The drug is undergoing Phase 1 clinical trials in the United States, designed as a hybrid study with a single-dose Phase 1a trial in healthy adults and a multiple-dose Phase 1b trial in patients. The trials aim to evaluate safety, tolerability, pharmacokinetics, and pharmacodynamics
Dosing for the Phase 1a trial is expected to be completed soon, with the Phase 1b trial involving patients set to commence in the second half of the year. Due to its mechanism of action, the company anticipates IMB-101 to be a best-in-class drug with potential indications for various autoimmune diseases. The agreement also includes IMB-102, a pipeline targeting OX40L with a monoclonal antibody.
The licensing agreement grants Navigator Medicines global rights (excluding Asia but including Japan). The non-refundable upfront payment is set at $20 million, with potential milestone payments totaling up to $924.75 million based on development and commercialization stages. Additionally, IM Biologics will receive royalties of up to double-digit percentages based on annual net sales. In the event of a third-party sublicense, revenues will be shared according to predefined development stage ratios.
Gyongsik Ha, CEO of IM Biologics, stated, “We trust in Navigator Medicines’ capabilities and experience in the autoimmune disease field. We will closely collaborate with them to successfully bring IMB-101 and IMB-102 to market, improving patients’ lives. We aim to set realistic, achievable goals and consistently meet our targets, thereby earning the market’s trust as a reliable and promise-keeping company.”
Stefan Thomas, CEO of Navigator Medicines, expressed his enthusiasm about the partnership, stating, “We are delighted to commence this partnership with IM Biologics, which is developing top-tier OX40L-targeting antibody therapeutics based on their outstanding development experience and capabilities. We plan to continue the development of IMB-101 and IMB-102 and swiftly provide these medications to patients in need.”
IM Biologics, founded in August 2020, is an antibody drug research and development biotech venture. The company garnered significant market attention last year by raising $14.5 million through a Series B funding round.
Original source here.