ORION CORPORATION
PRESS RELEASE
8 JANUARY 2024 at 09.00 EET
        

Orion and Glykos announce research collaboration and licensing agreement to develop next-generation ADCs

Orion Corporation and Glykos Finland Oy announced today that they have entered into a research collaboration and licensing agreement to develop next-generation antibody-drug conjugates (ADCs).

Under the agreement, Orion gains access to Glykos’ proprietary ADC technologies, initiating an ADC program with the potential for expansion into two additional programs in the future. Orion will be responsible for the target selection, research, development, and commercialization of up to three next-generation ADCs, with a focus on solid tumors.

Glykos is eligible for milestone payments related to signing of the agreement, target selection and sales milestones. Glykos is also entitled to receive royalties on commercial sales generated from the three ADC programs.

Outi Vaarala, Senior Vice President, Innovative Medicines and R&D, Orion, said: “Collaboration with Glykos and possibility to utilize their ADC technology complements nicely our research portfolio in oncology and is yet another demonstration of our will to develop new treatment options for cancer patients with unmet needs.”

Juhani Saarinen, CEO of Glykos, said: "The acknowledgment of our ADC technology by an esteemed pharmaceutical company like Orion is a strong statement to the transformative potential of these technologies in enhancing the therapeutic index of ADCs. We look forward to partnering with Orion and believe that with their expertise on cancer therapies and robust clinical pipeline, this partnership can deliver innovative medicines for cancer patients.”

About Orion
Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. We develop, manufacture and market human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and self-care products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. Orion's net sales in 2022 amounted to EUR 1,341 million and the company had about 3,500 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.

About Glykos
Glykos, focusing on antibody-drug conjugates (ADCs), is dedicated to revolutionizing cancer treatment. Glykos' proprietary hydrophilic payload and linker technology addresses ADC limitations, offering benefits of high efficacy, increased tolerability, excellent pharmacokinetics, and optimized conjugation with any monoclonal antibody. Focused on expanding the therapeutic index, we aim to extend survival and enhance the quality of life for cancer patients. For more information, please visit www.glykos.fi.
                                
                                                
Contact person:

Terhi Ormio, VP, Communications
Orion Corporation
tel. +358 50 966 4646
e-mail: terhi.ormio@orion.fi

Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
www.orion.fi