LUND, Sweden, June 1, 2020 /PRNewswire/ -- Alligator
Bioscience (Nasdaq Stockholm: ATORX), today announces that the
company received an additional USD 0.5
million in a second installment of the upfront payment from
the Chinese company Biotheus Inc. A first installment of
USD 0.5 million was received in
August 2019 in connection with
Alligator entering into a licensing agreement with Biotheus with a
total value up to USD 142 million.
The agreement concerns the Chinese rights to an immune-activating
antibody from the antibody library ALLIGATOR-GOLD®, with
the intention of creating up to three new bispecific molecules.
"It is very gratifying that Biotheus has chosen to continue
the collaboration after conducting a thorough scientific and
technical evaluation of our antibody. It serves as an additional
validation of our antibody library and of our capacity to develop
immune-activating antibodies, while giving Alligator further
presence in the important Chinese pharmaceutical
market," said Per Norlén, CEO Alligator Bioscience.
The license agreement includes exclusive rights to an
immune-activating antibody directed to a receptor within the Tumor
Necrosis Factor Receptor-superfamily (TNFR-SF), a collective name
for a number of target molecules with similar functions, and
applies to the China, Hong Kong, Taiwan and Macau markets.
In addition to the received upfront payment totaling
USD 1 million, the license agreement
gives Alligator the right to receive additional milestones and
option fees at a potential total value of up to USD 141 million, as well as royalties on future
sales and share of any sub-license revenue.
This information is such information as Alligator Bioscience
AB (publ) is obliged to make public pursuant to the EU Market Abuse
Regulation. This information was submitted for publication, through
the agency of the contact person set out above, at 1:30 p.m. CEST on June 1,
2020.
About Alligator Bioscience
Alligator Bioscience AB is a clinical-stage biotechnology
company developing tumor-directed immuno-oncology antibody drugs.
Alligator's pipeline includes five lead clinical and preclinical
drug candidates: mitazalimab, ATOR-1015, ATOR-1017, ALG.APV-527
(co-developed with Aptevo Therapeutics Inc.) and AC101 (in clinical
development by Shanghai Henlius Biotech Inc.). Alligator's shares
are listed on Nasdaq Stockholm (ATORX). The Company is
headquartered in Lund, Sweden. For
more information, please visit www.alligatorbioscience.com.
About Biotheus Inc.
Biotheus is a fast-growing biotechnology company based in
Zhuhai, Guangdong, China focusing
on the development of the next generation of antibody-based cancer
treatments. Biotheus' management team has broad experience in
everything from discovery research to regulatory applications in
China. Biotheus has a broad
project portfolio focusing on immuno-oncology with the aim to
develop their leading candidate drugs towards market approval.
Biotheus is actively looking for clinical development and
commercialization partners to fulfill these aims.
For further information, please contact:
Cecilia Hofvander
Director Investor Relations & Communications
Phone +46-46-540-82-06
E-mail: cecilia.hofvander@alligatorbioscience.com
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Alligator
Bioscience™s collaboration with Biotheus Inc. proceeds and second
payment is received
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