MediLink Therapeutics announces a multi-target TMALIN® ADC technology platform license agreement with BioNTech, expanding their global strategic partnership

Rhea-AI Summary

MediLink Therapeutics has announced a strategic collaboration with BioNTech, granting BioNTech exclusive global rights to MediLink's TMALIN® ADC technology for several targets. BioNTech will pay $25 million upfront, with potential milestone payments up to $1.8 billion and tiered royalties on future sales. MediLink retains negotiation rights for exclusive licensing in Mainland China and adjacent regions. This expands their partnership, initially formed in October 2023, to develop the anti-HER3 ADC BNT326/YL202, reaffirming their collaborative efforts in the ADC arena.

Positive

• MediLink to receive $25 million upfront payment.
• Potential milestone payments up to $1.8 billion.
• Tiered royalties on future global annual net sales.
• Expansion of strategic partnership with BioNTech.
• Rights of first negotiation in Mainland China and adjacent regions.

Negative

• Financial dependence on milestone achievements for up to $1.8 billion.
• Potential delays or issues in ADC product candidate development.

SUZHOU, China, May 26, 2024 /PRNewswire/ -- MediLink Therapeutics (Suzhou) Co., Ltd. ("MediLink"), a clinical-stage biotech company, today announces a new strategic collaboration with BioNTech SE (Nasdaq: BNTX, "BioNTech"), a next-generation immunotherapy company pioneering novel therapies for cancer and other serious diseases, under which BioNTech will receive an exclusive option to an exclusive global license to apply MediLink's TMALIN® antibody-drug conjugate (ADC) platform, for several novel targets chosen by BioNTech.

Under the terms of this new agreement, MediLink will receive an upfront payment of $25 million and is eligible to receive additional development, regulatory and sales milestone payments potentially totaling up to $1.8 billion, as well as tiered royalties on potential future global annual net sales. As part of the agreement, MediLink will hold the right of first negotiation for future collaboration of these ADC product candidates if BioNTech wishes to exclusively license or assign rights in such ADC product candidates solely on the Mainland China market or Mainland China market together with one or more of the markets including of Hong Kong Special Administrative Region (SAR), Macau SAR or Taiwan region.

In October 2023, MediLink and BioNTech entered into a strategic collaboration and global license agreement to develop BNT326/YL202, a next-generation anti-HER3 ADC. Both parties have decided to expand their collaboration and have reached this new platform collaboration license agreement.

The expansion of the collaboration marks a further consolidation of the strategic partnership between MediLink and BioNTech, laying a new foundation for the mutual R&D collaboration in the ADC field.

About MediLink Therapeutics
MediLink Therapeutics, founded in 2020, is a clinical stage biotech company dedicated to developing conjugated drugs with global competitiveness. MediLink has developed its proprietary TMALIN® ADC technology platform, enabling the generation of homogeneous ADC with high drug-antibody ratio and improved therapeutic window for the treatment of solid tumors. MediLink aims to provide improved treatment options for global patients and address unmet medical needs. The company is headquartered in Suzhou, China and has established R&D sites in Shanghai, China and Boston, US.

About TMALIN®
The Tumor Microenvironment Activable LINker-payload (TMALIN®) is an innovative ADC platform technology developed by MediLink Therapeutics with proprietary intellectual property rights. It employs dual cleavage mechanisms, operating both extracellularly in the tumor microenvironment and intracellularly in lysosomes. TMALIN® possesses high hydrophilicity, homogenous DAR value, excellent plasma stability, and specific tumor accumulation characteristics. In preclinical efficacy and toxicology studies, ADCs developed based on TMALIN® exhibited significant therapeutic window. So far, several ADC products based on TMALIN® platform have entered into clinical trial stage.

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SOURCE MediLink Therapeutics

FAQ

What is the recent collaboration between BioNTech and MediLink?

BioNTech and MediLink have entered a new strategic collaboration where BioNTech gains exclusive global rights to MediLink's TMALIN® ADC platform for several targets.

What are the financial terms of the BioNTech and MediLink agreement?

BioNTech will pay MediLink $25 million upfront, with potential milestone payments up to $1.8 billion and tiered royalties on future global sales.

When was the BioNTech and MediLink partnership expansion announced?

The partnership expansion was announced on May 26, 2024.

What rights does MediLink retain in the new agreement with BioNTech?

MediLink retains the right of first negotiation for ADC product candidates exclusively licensed or assigned in Mainland China and adjacent regions.

What was the initial collaboration between BioNTech and MediLink?

The initial collaboration, started in October 2023, focused on developing the anti-HER3 ADC BNT326/YL202.