SUZHOU, China, May 26, 2024 /PRNewswire/ -- MediLink
Therapeutics (Suzhou) Co., Ltd. ("MediLink"), a clinical-stage
biotech company, today announces a new strategic collaboration with
BioNTech SE (Nasdaq: BNTX, "BioNTech"), a next-generation
immunotherapy company pioneering novel therapies for cancer and
other serious diseases, under which BioNTech will receive an
exclusive option to an exclusive global license to apply MediLink's
TMALIN® antibody-drug conjugate (ADC) platform, for several novel
targets chosen by BioNTech.
Under the terms of this new agreement, MediLink will receive an
upfront payment of $25 million and is
eligible to receive additional development, regulatory and sales
milestone payments potentially totaling up to $1.8 billion, as well as tiered royalties on
potential future global annual net sales. As part of the agreement,
MediLink will hold the right of first negotiation for future
collaboration of these ADC product candidates if BioNTech wishes to
exclusively license or assign rights in such ADC product candidates
solely on the Mainland China market or Mainland China market
together with one or more of the markets including of Hong Kong
Special Administrative Region (SAR), Macau SAR or Taiwan region.
In October 2023, MediLink and
BioNTech entered into a strategic collaboration and global license
agreement to develop BNT326/YL202, a next-generation anti-HER3 ADC.
Both parties have decided to expand their collaboration and have
reached this new platform collaboration license agreement.
The expansion of the collaboration marks a further consolidation
of the strategic partnership between MediLink and BioNTech, laying
a new foundation for the mutual R&D collaboration in the ADC
field.
About MediLink Therapeutics
MediLink Therapeutics,
founded in 2020, is a clinical stage biotech company dedicated to
developing conjugated drugs with global competitiveness. MediLink
has developed its proprietary TMALIN® ADC technology platform,
enabling the generation of homogeneous ADC with high drug-antibody
ratio and improved therapeutic window for the treatment of solid
tumors. MediLink aims to provide improved treatment options for
global patients and address unmet medical needs. The company is
headquartered in Suzhou, China and
has established R&D sites in Shanghai, China and Boston, US.
About TMALIN®
The Tumor Microenvironment Activable
LINker-payload (TMALIN®) is an innovative ADC platform technology
developed by MediLink Therapeutics with proprietary intellectual
property rights. It employs dual cleavage mechanisms, operating
both extracellularly in the tumor microenvironment and
intracellularly in lysosomes. TMALIN® possesses high
hydrophilicity, homogenous DAR value, excellent plasma stability,
and specific tumor accumulation characteristics. In preclinical
efficacy and toxicology studies, ADCs developed based on TMALIN®
exhibited significant therapeutic window. So far, several ADC
products based on TMALIN® platform have entered into clinical trial
stage.
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SOURCE MediLink Therapeutics