Keymed Biosciences Inc. and Lepu Biopharma Co., Ltd. have today made a landmark agreement with AstraZeneca, granting them exclusive global rights to develop, manufacture and commercialize CMG901, a potential first-in-class Claudin 18.2 antibody drug conjugate (ADC). This revolutionary agreement is set to have far-reaching implications, with CMG901 offering the potential to revolutionize the field of cancer treatment.
CMG901 is making waves in the fight against Claudin 18.2-positive solid tumors. Early results from a Phase 1 clinical trial show that CMG901 has an impressive safety profile and is proving to be a powerful weapon against these tumors. Excitement is growing as the drug continues to demonstrate its efficacy across various doses.
Financial Considerations
KYM Biosciences, the joint venture established by Keymed and Lepu Biopharma, is set to reap the rewards of a lucrative agreement, with an upfront payment of $63 million and additional development and sales-related milestone payments of up to $1.1 billion, along with tiered royalties up to low double-digits. The transaction is estimated to close in the first half of 2023, pending customary closing conditions and regulatory clearances. This is a remarkable opportunity for the joint venture to reap substantial benefits.
Dr. Bo Chen, Chief Executive Officer of Keymed and Board Chairman of KYM, is thrilled to announce their partnership with AstraZeneca, a global biopharmaceutical leader in developing and commercializing novel anti-cancer therapies. This agreement not only recognizes CMG901, a potential first-in-class Claudin 18.2 ADC, but also highlights Keymed’s impressive internal discovery and development capabilities. This global agreement has the potential to revolutionize cancer treatments, providing much-needed help to patients in China, and beyond.
We are delighted to announce the development of CMG901, a potential new medicine that could revolutionize treatment options for patients with Claudin18.2-expressing cancers. As Senior Vice President of Biologics Engineering & Oncology Targeted Delivery, Oncology R&D at AstraZeneca, Puja Sapra is thrilled to see the progress being made with CMG901 and looks forward to delivering a transformative outcome for those with gastrointestinal cancer.
ABOUT CMG901
CMG901 is a revolutionary new antibody drug conjugate targeting the cell surface protein Claudin 18.2, making it a potential game-changer in the fight against solid tumours such as gastric cancer. Developed by KYM Biosciences Inc., a joint venture between Keymed Biosciences and Lepu Biopharma, CMG901 combines an anti-Claudin 18.2 monoclonal antibody, a protease-degradable linker, and the cytotoxic small molecule monomethyl auristatin E (MMAE) to create an innovative new tool for the treatment of these aggressive diseases.
ABOUT Keymed Biosciences Inc.
Keymed Biosciences Inc. (Stock Code: 02162 HK) is a medical and scientific powerhouse, founded by experts from world-renowned universities with vast experience in transforming scientific and technological achievements into successful businesses. Its core team of inventors has pioneered the first PD-1 antibody drugs approved in the US and China. With a diversified pipeline addressing cancer and autoimmune diseases, Keymed has developed over 30 self-developed Class I novel drug candidates, 9 of which have already entered clinical trial stages. On July 8, 2021, the Company was proudly listed on the main board of Hong Kong Stock Exchange, and is dedicated to providing high-quality, affordable, innovative therapies to patients in China and overseas.