LegoChem Bio Signs Technology Transfer Agreement for Anticancer Drug Candidate
[Asia Economy Reporter Minji Lee] LegoChem Biosciences announced on the 29th that it has signed a technology transfer agreement for an antibody-drug conjugate (ADC) anticancer drug candidate with the Chinese company CStone Pharmaceuticals.
The contract amount is 409.8 billion KRW (363.5 million USD), with an upfront payment of 11.276 billion KRW. The milestone payments total 398.6 billion KRW and will be received in stages according to clinical phases, approvals, and commercialization. Royalties and clinical sample production costs will be received separately.
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The company stated, "The candidate substance was derived by combining ABL Bio's proprietary antibody and LegoChem Biosciences' unique technology," and added, "The amount will be distributed according to the ratio agreed upon with ABL Bio."
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