Nectin Therapeutics Licenses Novel Antibodies to Immunome

Rhea-AI Summary

Nectin Therapeutics has entered into a global, exclusive license agreement with Immunome Inc. (Nasdaq: IMNM) for antibodies targeting an undisclosed target. The deal allows Immunome exclusive rights to a panel of antibodies, with Nectin receiving an upfront payment and eligibility for milestones and royalties. This agreement enables Nectin to focus on its first-in-class anti-PVR program (NTX1088) and advance novel antibody drug conjugates (ADCs) into clinical development.

Immunome will be responsible for the research, development, manufacturing, and commercialization of products incorporating these antibodies. The company believes that the next generation of transformative ADCs will address novel targets by pairing high-quality antibodies with innovative linker-payload technology.

Positive

• Nectin Therapeutics receives upfront payment and potential future milestones and royalties
• Immunome gains exclusive worldwide rights to antibodies against an undisclosed target
• Agreement allows Nectin to focus on its first-in-class anti-PVR program (NTX1088) and advance novel ADCs

Negative

• None.

News Market Reaction

+5.67%

1 alert

+5.67% News Effect

On the day this news was published, IMNM gained 5.67%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

– Exclusive worldwide license agreement for antibodies against undisclosed target

JERUSALEM, July 25, 2024 /PRNewswire/ -- Nectin Therapeutics, Ltd., a biotechnology company developing novel immunotherapies and antibody drug conjugates (ADC) to address tumor resistance, today announced a global, exclusive license agreement with Immunome Inc. (Nasdaq: IMNM), a biotechnology company focused on developing first-in-class and best-in-class targeted cancer therapies. Under the terms of the license, Immunome received exclusive rights to a panel of antibodies targeting an undisclosed target.

"This agreement allows Nectin to realize value while further pursuing and enabling the focus on our first-in-class anti-PVR program (NTX1088) through its ongoing clinical study in tumor types with high unmet need as well as advance our novel ADCs into clinical development. Immunome's leadership team's track record of developing and commercializing novel ADC therapies makes it an ideal partner to advance these promising assets," said Fabian Tenenbaum, Chief Executive Officer of Nectin Therapeutics.

"Immunome believes the next generation of transformative antibody drug conjugates will address novel targets by pairing high-quality antibodies with innovative linker-payload technology," said Clay Siegall, PhD, President and Chief Executive Officer of Immunome. "We appreciate the work Nectin has done on these antibodies and look forward to advancing them further."

Under the terms of the agreement, Nectin granted Immunome an exclusive, worldwide, all-fields license to monoclonal antibodies that are directed to a single undisclosed target. Immunome will be responsible for the research, development, manufacturing and commercialization of products incorporating these antibodies. Nectin will receive an upfront payment and will be eligible for milestones and royalties.

About Nectin Therapeutics, LTD.
Nectin Therapeutics is a clinical stage biotechnology company devoted to transforming the lives of cancer patients by leveraging unique insights into Nectin pathways to develop the next generation of immune oncology (IO) therapies and antibody drug conjugates (ADCs). The company's differentiated therapies have the potential to set new standards for efficacy and patient response rates across various difficult-to-treat cancers. Nectin's technology addresses major escape mechanisms of current IO therapies through a diverse pipeline of novel monoclonal antibodies and antibody drug conjugates (ADCs). It has a world-class scientific and management team with deep experience in oncology drug development and successful track records in building biotechnology companies and developing innovative therapies. Nectin Therapeutics is a venture-backed, privately held company, funded by aMoon Fund, Peregrine Ventures, IBF, Integra Holdings, the Myeloma Investment Fund (MIF), GIBF and the Cancer Focus Fund.

Nectin Contact:
Fabian Tenenbaum
Chief Executive Officer
info@nectintx.com
+1 201 218-1774

View original content:https://www.prnewswire.com/news-releases/nectin-therapeutics-licenses-novel-antibodies-to-immunome-302206469.html

SOURCE Nectin Therapeutics

FAQ

What is the nature of the agreement between Nectin Therapeutics and Immunome (IMNM)?

Nectin Therapeutics has granted Immunome (IMNM) a global, exclusive license agreement for antibodies targeting an undisclosed target. The agreement gives Immunome exclusive worldwide rights to a panel of antibodies.

What will Immunome (IMNM) be responsible for under this agreement?

Immunome (IMNM) will be responsible for the research, development, manufacturing, and commercialization of products incorporating the licensed antibodies.

What financial terms are included in the agreement between Nectin Therapeutics and Immunome (IMNM)?

Nectin Therapeutics will receive an upfront payment from Immunome (IMNM) and will be eligible for milestone payments and royalties. Specific financial details were not disclosed in the press release.

How does this agreement benefit Nectin Therapeutics' development pipeline?

The agreement allows Nectin Therapeutics to focus on its first-in-class anti-PVR program (NTX1088) through its ongoing clinical study and advance its novel antibody drug conjugates (ADCs) into clinical development.