Nona Biosciences announced agreement with AstraZeneca for tumour targeted therapies
Betsy Goodfellow | May 24, 2024 | News story | Research and Development | AstraZeneca, Cancer, Oncology, nona biosciences, targeted therapies
Nona Biosciences and AstraZeneca have announced that the two companies have entered into a license agreement for preclinical monoclonal antibodies, which will be used to create targeted therapies within oncology.
Under the terms of this agreement, AstraZeneca will pay Nona Biosciences an upfront payment of $19m upon completion of the transaction. Nona is also eligible to receive a further $10m in potential near-term milestone payments as well as up to $575m on the achievement of specified development, regulatory and commercial milestones. The company is also eligible for tiered royalty payments on net sales, as well as payments for other option programmes if AstraZeneca decides to exercise these options.
Jingsong Wang MD PhD, chairman of Nona Biosciences, commented: “We are delighted to announce this agreement with AstraZeneca, global leaders in developing tumour targeted therapies, to maximise the potential of our novel antibodies. 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 of Tumour Targeted Delivery, Oncology R&D, added: “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 tumour targeted therapies using AstraZeneca’s industry-leading capabilities.”
Betsy Goodfellow
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