ONWARD THERAPEUTICS AND BIOMUNEX PHARMACEUTICALS SIGN NEW AGREEMENT

HIGHLIGHTS

  • Onward Therapeutics SA has signed a new agreement Biomunex Pharmaceuticals.
  • The agreement is about the production of bispecific antibody.
  • The two parties signing the agreement will jointly develop the bispecific antibody.
  • Onward CEO is set to join the board of Biomunex.

Onward Therapeutics SA has signed a new agreement Biomunex Pharmaceuticals. Onward Therapeutics SA has signed a new agreement Biomunex Pharmaceuticals. This agreements stipulates the execution of a worldwide exclusive license and co-development agreement with Paris-based Biomunex Pharmaceuticals SAS of a bispecific antibody targeting two immune checkpoints.

Biomunex has granted the rights to pursue development, manufacture and commercialization of this first-in-class bispecific antibody, to Onward. The two partners signing the agreement will jointly develop the antibody during the preclinical and early clinical program. Biomunex is responsible for early preclinical development whereas Onward will complete the Investigational New Drug (IND)-enabling studies. Onward will also be responsible for Good Manufacturing Practice (GMP) manufacture, clinical development, and commercialization.

Under the terms of this agreement, Onward will have to pay upfront, development, regulatory and sales milestones, along with tiered royalties on net sales. Onward will also make an equity investment in Biomunex. Dr. C. Grace Yeh, Chairman and Chief Executive Officer (CEO) of Onward will join the board of Biomunex. The details of the financial terms of agreement were not disclosed to media.

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