- Exclusive worldwide license agreement for
preclinical ROR1 ADC, on track to submit IND in 1Q 2025 -
- Proprietary ADC platform enhances Immunome’s
development of next-generation ADC programs -
- Zentalis to receive up-front payment of $35
million in cash and Immunome common stock and is eligible to
receive up to $275 million of milestone payments and mid-to-high
single-digit royalties -
Immunome, Inc. (Nasdaq: IMNM) and Zentalis® Pharmaceuticals,
Inc. (Nasdaq: ZNTL), today announced that they have entered into an
exclusive, worldwide license agreement under which Immunome has
licensed from Zentalis ZPC-21, a preclinical ROR1 antibody-drug
conjugate (ADC) with best-in-class potential on track for IND
submission in 1Q 2025, and Zentalis’ proprietary ADC platform
technology.
“This agreement strengthens Immunome’s pipeline while expanding
our ADC toolbox,” said Clay B. Siegall, Ph.D., Chairman and Chief
Executive Officer of Immunome. “ZPC-21’s preclinical activity
across multiple models suggest best-in-class potential against
ROR1, a clinically validated target that is relevant to both solid
tumors and hematological malignancies. We intend to efficiently
advance ZPC-21 through IND and into clinical development.”
Dr. Siegall continued: “The next generation of transformative
ADCs will be built through combining rigorously selected targets
with innovative linker-payload platforms. We believe that the
linker-payload technology that underlies ZPC-21 may compare
favorably to the platforms of successful ADC franchises—a testament
to Zentalis’ deep understanding of medicinal chemistry and cancer
biology. Immunome will now evaluate and advance Zentalis’ platform
technology in the context of our multiple discovery-stage ADC
programs against undisclosed targets.”
Under the terms of the deal, Zentalis will receive an up-front
payment of $35 million in cash and Immunome common stock. Zentalis
will be eligible to receive up to $275 million of milestone
payments for ZPC-21 and the platform technology in addition to
mid-to-high single-digit royalties.
“Immunome’s leadership team’s track record of advancing
paradigm-changing ADCs, along with Zentalis’ commitment to apply
cutting-edge medicinal chemistry to anti-cancer agents, makes
Immunome the ideal partner to advance our ADC platform,” said Cam
Gallagher, President of Zentalis. “This transaction realizes
immediate value for our shareholders while enabling the Zentalis
team to focus on advancing azenosertib, our oral WEE1 inhibitor
with first-in-class and best-in-class potential, through multiple
ongoing clinical studies in tumor types with high unmet need.”
Leerink Partners is acting as exclusive financial advisor to
Zentalis
About Immunome, Inc.
Immunome is a biotechnology company dedicated to developing
first-in-class and best-in-class targeted cancer therapies. Our
portfolio pursues each target with a modality appropriate to its
biology, including immunotherapies, targeted effectors, radioligand
therapies and ADCs. We believe that pursuing underexplored targets
with appropriate drug modalities leads to transformative therapies.
Our proprietary memory B cell hybridoma technology allows for the
rapid screening and functional characterization of novel antibodies
and targets.
For more information, visit www.immunome.com or follow us on
Twitter and LinkedIn.
About Zentalis Pharmaceuticals, Inc.
Zentalis® Pharmaceuticals, Inc. is a clinical-stage
biopharmaceutical company discovering and developing clinically
differentiated small molecule therapeutics targeting fundamental
biological pathways of cancers. The Company’s lead product
candidate, azenosertib (ZN-c3), is a potentially first-in-class and
best-in-class WEE1 inhibitor for advanced solid tumors and
hematologic malignancies. Azenosertib is being evaluated as a
monotherapy and in combination across multiple clinical trials and
has broad franchise potential. In clinical trials, azenosertib has
been well tolerated and has demonstrated anti-tumor activity as a
single agent across multiple tumor types and in combination with
several chemotherapy backbones. As part of its azenosertib clinical
development program, the Company is exploring enrichment strategies
targeting tumors of high genomic instability, such as Cyclin E1
positive tumors and homologous recombination deficient tumors. The
Company is also leveraging its extensive experience and
capabilities across cancer biology and medicinal chemistry to
advance its research on protein degraders. Zentalis has operations
in both New York and San Diego.
For more information, please visit www.zentalis.com. Follow
Zentalis on X/Twitter at @ZentalisP and on LinkedIn at
www.linkedin.com/company/zentalis-pharmaceuticals.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements contained in this communication regarding
matters that are not historical facts, are forward-looking
statements within the meaning of Section 21E of the Securities and
Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995 (the “PSLRA”). Zentalis and Immunome
may use words and phrases such as “believe,” “intend,” “may,”
“potential,” “suggests,” “will,” and similar expressions to
identify these forward-looking statements that are intended to be
covered by the safe-harbor provisions of the PSLRA. These forward
looking statements include, but are not limited to, statements
regarding the expansion and advancement of Immunome’s pipeline and
Immunome’s approach and strategy related to its pipeline, including
ZPC-21; the potential for ZPC-21 to be best-in-class; the timeline
for submitting an IND, if any, for ZPC-21; the potential for
Zentalis to receive milestone payments and/or royalties for ZPC-21;
the first-in-class and best-in-class potential of Zentalis’ product
candidate, azenosertib; the potential for the licensing transaction
to enable Zentalis to focus on advancing the development of
azenosertib; the potential for azenosertib to address unmet need;
and other statements regarding each company’s intentions, plans,
beliefs, expectations or forecasts for the future. No
forward-looking statement can be guaranteed, and actual results may
differ materially from those projected. Such forward-looking
statements are based on our expectations and involve risks and
uncertainties; consequently, actual results may differ materially
from those expressed or implied in the statements due to a number
of factors, including, but not limited to, risks related to the
ability to realize the anticipated benefits of the license
agreement; costs related to integrating ZPC-21 into Immunome’s
pipeline and pursuing the contemplated asset development path; the
risk that Immunome may not submit an IND for ZPC-21 by the end of
the first quarter of 2025 or at all; Immunome’s ability to grow and
successfully execute on its business plan, including advancing its
current pipeline and any additionally acquired assets into the
clinic and expanding its pipeline through its technology platforms,
proprietary toolbox and strategic transactions, if any; the ability
of Immunome to identify, conduct and complete IND-enabling studies;
changes in the applicable laws or regulations; the possibility that
Immunome may be adversely affected by other economic, business,
and/or competitive factors; the risk that regulatory approvals for
Immunome’s programs and product candidates are not obtained, are
delayed or are subject to unanticipated conditions that could
adversely affect it; Immunome’s ability to manage clinical trials
or studies; the risk that Immunome’s pre-clinical data may not be
predictive of clinical data; the complexity of numerous regulatory
and legal requirements that Immunome needs to comply with to
operate its business; the reliance on Immunome’s management and
Board of Directors; the prior experience and successes of the
Immunome’s management team and directors are not necessarily
indicative of any future success; uncertainties related to
Immunome’s capital requirements, expected cash runway and ability
to raise additional funds; the failure to obtain, adequately
protect, maintain or enforce Immunome’s intellectual property
rights; Zentalis’ limited operating history, which may make it
difficult to evaluate its current business and predict its future
success and viability; Zentalis has and expects to continue to
incur significant losses; Zentalis’ need for additional funding,
which may not be available; Zentalis’ plans, including the costs
thereof, of development of any diagnostic tools; Zentalis’
substantial dependence on the success of its lead product
candidates; the outcome of Zentalis’ preclinical testing and early
trials may not be predictive of the success of later clinical
trials; Zentalis’ failure to identify additional product candidates
and develop or commercialize marketable products; potential
unforeseen events during Zentalis’ clinical trials could cause
delays or other adverse consequences; risks relating to the
regulatory approval process or ongoing regulatory obligations for
Zentalis; Zentalis’ failure to obtain U.S. or international
marketing approval; Zentalis’ product candidates may cause serious
adverse side effects; Zentalis’ inability to maintain its
collaborations, or the failure of these collaborations; Zentalis’
reliance on third parties; effects of significant competition; the
possibility of system failures or security breaches; risks relating
to Zentalis’ intellectual property; Zentalis’ ability to attract,
retain and motivate qualified personnel, and risks relating to
management transitions; significant costs as a result of operating
as a public company; and other risks and uncertainties indicated
from time to time described in Immunome’s Annual Report on Form
10-K for the year ended December 31, 2022 filed with Securities and
Exchange Commission (“SEC”) on March 16, 2023, Immunome’s Quarterly
Report on Form 10-Q for the quarter ended September 30, 2023 filed
with the SEC on November 9, 2023, and in Immunome’s other filings
with the SEC, and in Zentalis’s Annual Report on Form 10-K for the
year ended December 31, 2022 filed with SEC on March 1, 2023,
Zentalis’s Quarterly Report on Form 10-Q for the quarter ended
September 30, 2023 filed with the SEC on November 6, 2023, and in
Zentalis’ other filings with the SEC. Immunome and Zentalis caution
that the foregoing list of factors is not exclusive and not to
place undue reliance upon any forward-looking statements which
speak only as of the date made. Moreover, each of Immunome and
Zentalis operates in a very competitive and rapidly changing
environment. New risks emerge from time to time. Except as required
by law, neither Immunome nor Zentalis undertakes any obligation to
update publicly any forward-looking statements for any reason after
the date of this press release to conform these statements to
actual results or to changes in their expectations.
ZENTALIS® and its associated logo are trademarks of Zentalis
and/or its affiliates. All website addresses and other links in
this press release are for information only and are not intended to
be an active link or to incorporate any website or other
information into this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240108297637/en/
Immunome Investor Contact
Max Rosett Interim Chief Financial Officer
investors@immunome.com
Zentalis Investor Contact
Adam Bero, Ph.D. Kendall Investor Relations
abero@kendallir.com
Zentalis Pharmaceuticals (NASDAQ:ZNTL)
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