Nona Biosciences Announces Global License and Option Agreement with AstraZeneca for Monoclonal Antibody to be Developed into Novel Tumor Targeted Therapies

Rhea-AI Summary

Nona Biosciences announced a global license and option agreement with AstraZeneca for the development of monoclonal antibodies into targeted cancer therapies. Under this deal, Nona will receive $19 million initially, with potential milestone payments totaling up to $575 million, and tiered royalties on net sales. Nona may also receive additional payments if AstraZeneca exercises further options. This partnership leverages Nona's antibody discovery platform alongside AstraZeneca's expertise in oncology.

Positive

• Nona Biosciences to receive $19 million upfront.
• Potential for up to $575 million in milestone payments.
• Agreement includes tiered royalties on net sales.
• Nona eligible for additional payments if AstraZeneca exercises options.
• Collaboration validates Nona's antibody discovery platform.
• Partnership with a globally recognized company in tumor-targeted therapies.

Negative

• Future payments are contingent on achieving development, regulatory, and commercial milestones, adding uncertainty.
• No immediate revenue beyond the initial $19 million payment.

CAMBRIDGE, Mass., May 22, 2024 /PRNewswire/ -- Nona Biosciences, a global biotechnology company providing a total solution from "Idea to IND" (I to I^TM), ranging from target validation and antibody discovery through preclinical research, announced today that it has entered into a license agreement with AstraZeneca (LSE/STO/Nasdaq: AZN) for preclinical monoclonal antibodies that will be used to create targeted therapies in oncology.

Under the terms of the agreement, Nona Biosciences shall receive US$19 million upon completion of the transaction. Nona is eligible to receive an additional US$10 million in potential near-term milestone payments and up to US$575 million upon achieving specified development, regulatory, and commercial milestones, as well as tiered royalty payments on net sales. In addition, Nona is eligible to receive payments for the option programs should AstraZeneca exercise these options.

"We are delighted to announce this agreement with AstraZeneca, global leaders in developing tumor targeted therapies, to maximize the potential of our novel antibodies," said Jingsong Wang, M.D., Ph.D., Chairman of Nona Biosciences. "This agreement further validates our leading antibody discovery platform, and we look forward to seeing our antibodies developed into potential new medicines for cancer patients."

Puja Sapra, Senior Vice President, Tumour Targeted Delivery, Oncology R&D, AstraZeneca, said: "The global license agreement with Nona Biosciences is an exciting opportunity to further develop these antibodies derived from Nona's innovative biologics discovery engine into novel tumor targeted therapies using AstraZeneca's industry-leading capabilities."

About Nona Biosciences

Nona Biosciences (a wholly-owned subsidiary of HBM Holdings Limited, HKEX: 02142) is a global biotechnology company committed to cutting-edge technology innovation and provides a total solution from "Idea to IND" (I to I^TM), ranging from target validation and antibody discovery through preclinical research. The integrated antibody discovery services range from antigen preparation, animal immunization, highly robust antibody screening, to antibody lead generation and engineering, developability assessment and pharmacological evaluation, leveraging advantages of Harbour Mice^® technology and the experienced therapeutic antibody discovery team.

Harbour Mice^® generate fully human monoclonal antibodies in a traditional two heavy and two light chain (H2L2) format, and a heavy chain only (HCAb) format. Integrating Harbour Mice^® with highly robust antibody screening platforms, Nona Biosciences is focused on driving global inventions of transformative next-generation drugs. For more information, please visit www.nonabio.com and follow us on LinkedIn.

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SOURCE Nona Biosciences

FAQ

What is the value of the upfront payment Nona Biosciences will receive from AstraZeneca?

Nona Biosciences will receive an upfront payment of $19 million from AstraZeneca.

What is the potential total value of milestone payments Nona Biosciences could receive?

Nona Biosciences could receive up to $575 million in potential milestone payments.

What is the stock symbol for AstraZeneca?

The stock symbol for AstraZeneca is AZN.

What type of therapies will be developed under the agreement between Nona Biosciences and AstraZeneca?

Monoclonal antibodies will be developed into targeted cancer therapies.

What could Nona Biosciences receive in addition to milestone payments?

Nona Biosciences is eligible for tiered royalties on net sales and additional payments if AstraZeneca exercises option programs.