Ligakem Signs Up to $700 Million ADC Technology Export Deal with Japan's Ono

Ligacym Biosciences announced on the 10th that it has signed two antibody-drug conjugate (ADC) related technology transfer agreements with Ono Pharmaceutical Co., Ltd. The agreements cover one ADC candidate and ADC platform technology, with the candidate material deal valued at up to $700 million (approximately 943.5 billion KRW). The contract size for the platform technology was not disclosed.

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The ADC candidate material licensed this time is LCB97, currently in the preclinical stage, developed with the goal of being the "first in class" for the treatment of solid tumors. LCB97 is an ADC developed based on Ligacym Biosciences' proprietary ADC platform technology called "ConjuAll." It targets L1CAM, which is overexpressed in various solid tumors. It is reported to have demonstrated excellent anticancer effects in various mouse model experiments to date.

Through this technology transfer agreement, Ono Pharmaceutical has secured exclusive global development and commercialization rights for LCB97 targeting solid tumors. The contract size, including upfront payments, short-term milestones, and stepwise milestones, totals up to $700 million. Royalties based on sales after commercialization are separate.

In addition to the candidate material, Ligacym Biosciences and Ono Pharmaceutical also signed a joint research and license agreement for the ADC platform itself. Ono Pharmaceutical has obtained global exclusive rights to discover and develop ADC candidates targeting multiple targets using Ligacym Biosciences' ConjuAll platform technology. This agreement also consists of upfront payments for target exclusivity, stepwise milestones, and separate royalties. Detailed contract size has not been disclosed.

Katsumata Seishi, Head of Discovery and Research at Ono Pharmaceutical, said, "We are pleased to provide new treatment options for solid tumor patients through our partnership with Ligacym Biosciences. We look forward to delivering innovative therapies to patients as quickly as possible through close collaboration with Ligacym Biosciences."

Yongju Kim, CEO of Ligacym Biosciences, also said, "We are very pleased to collaborate with Ono Pharmaceutical, which has extensive new drug research and development experience and expertise in the field of anticancer drugs. Starting with this package deal with Ono Pharmaceutical, we will continue to grow as a global leader in ADCs through ongoing partnerships with global pharmaceutical companies."

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