Alligator Bioscience and Orion Corporation announce exercise of development option under their 2021 Immuno-oncology Research Collaboration and License Agreement
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| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
- Orion selects lead antibodies from the first discovery program
- Collaboration aims to discover and develop new bispecific antibody cancer therapeutics leveraging Alligator’s technologies and RUBY™ bispecific format
- Alligator to receive milestone payment following option exercise
Lund, Sweden – Alligator Bioscience (Nasdaq Stockholm: ATORX) today announces that Orion Corporation, a global pharmaceutical company based in Finland, has selected bispecific lead antibodies and is exercising its option to develop these molecules under the existing research collaboration and license agreement between the two companies. Alligator will continue to generate additional data in order for Orion to select the final development candidate over the coming months. Upon exercise, the development option is conditional upon a milestone payment to Alligator.
"The research collaboration conducted with Alligator to date has allowed us to identify several lead molecules which have potential to be selected for clinical development, making us keen to intensify and accelerate the research and nonclinical development of these compounds to have a final development candidate as soon as possible," said Outi Vaarala, Senior Vice President, Innovative Medicines Business and R&D, Orion Corporation Orion Pharma
"We are extremely pleased by our collaboration with Orion and proud to have been able to generate a high number of very attractive clones that has allowed Orion to select a few candidates in such a short amount of time.," said Søren Bregenholt, CEO of Alligator Bioscience. "This represents further validation of our technology platforms in identifying and developing high quality therapeutic antibodies with excellent manufacturing potential."
Under the initial agreement signed in 2021, Alligator employed its proprietary phage display libraries and RUBY™ bispecific antibody format to develop immuno-oncology product candidates based on design criteria identified by Orion. Alligator is eligible for development, approval and sales milestone payments in addition to royalties if Orion continues developing and commercializing the resulting product candidates.
In January 2023, Alligator and Orion announced the expansion of the original agreement to include the development of a second bispecific antibody.