LUND, Sweden, Aug. 20, 2019 /PRNewswire/ -- Alligator
Bioscience (Nasdaq Stockholm: ATORX), today announces that a
license agreement has been reached with Biotheus Inc. ("Biotheus"),
a privately held Chinese company based in Zhuhai, Guangdong, China. Under the license agreement,
Alligator has granted Biotheus rights in Greater China (including Republic of China, Hongkong, Taiwan and Macau) to an antibody from ALLIGATOR-GOLD® for
the creation of up to three bispecific molecules. The license
agreement includes an option for expanding the license to covering
global rights.
The license agreement includes an upfront of USD 1 million where Alligator receives
USD 0.5 million upon signing and
USD 0.5 million after 6 months of
scientific-technical evaluation. Under the agreement Alligator is
eligible to receive upfront, milestones and option fees of up to a
total of approximately USD 142
million. This sum includes upfront and development
milestones amounting to a total of approx. USD 52 million, global option fees up to a total
of USD 90 million, plus royalties on
future sales and share of sub-license 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 Alligator
Bioscience.
The Tumor Necrosis Factor Receptor super family (TNFR-SF) is a
family of related receptors, sharing sequence homology. Several
Alligator pipeline programs interact with members of the TNFR super
family.
This information is such information as Alligator Bioscience
AB (publ) is obliged to make public pursuant to the EU Market Abuse
Regulation. This information was submitted for publication, through
the agency of the contact persons set out above, at 4:35 p.m. CEST on August
20, 2019.
About Biotheus Inc.
Biotheus is a fast-growing biotechnology company based in Zhuhai,
Guangdong, China with expectations
to expand to >60 employees by 2019. Biotheus' management team
has broad experience from drug discovery to NDA filing in
China. Biotheus is developing a
broad me-better/novel target pipeline focused on immuno-oncology
and metabolic disease areas, with the aim to develop their leading
assets towards market authorization. Biotheus is actively looking
for late-stage clinical and commercialization partners to fulfill
these aims.
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology company
developing tumor-directed immuno-oncology antibody drugs.
Alligator's growing pipeline includes five lead clinical and
preclinical drug candidates: ADC-1013, ATOR-1015, ATOR-1017,
ALG.APV-527 and ATOR-1144. Alligator's shares are listed on Nasdaq
Stockholm (ATORX). The Company is headquartered in Lund, Sweden, and has approximately 55
employees. For more information, please visit
www.alligatorbioscience.com.
CONTACT:
For further information, please
contact:
Cecilia
Hofvander, Director IR & Communications
Phone +46-46-540-82-06
E-mail: cecilia.hofvander@alligatorbioscience.com
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Alligator Bioscience
signs antibody agreement for Greater China with Biotheus
Inc.
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