Adcendo and Multitude reaches licensing agreement
Adcendo ApS (Adcendo) and Multitude Therapeutics Inc (Multitude) have signed a licensing agreement regarding the development of a highly differentiated antibody-drug conjugate (ADC) targeting Tissue Factor (TF), known as ADCE-T02. As part of the agreement, Adcendo gains exclusive development and commercialisation rights globally, aside from the Greater China region (including mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan) which remains with Multitude Therapeutics.
TF can become highly expressed when diseases like non-small cell lung cancer, colorectal cancer, cervical cancer, oesophageal cancer, head and neck cancer, bladder cancer and certain gastrointestinal cancers are involved. However, expression can be limited in normal tissues.
Whereas ADCE-T02 is classed as an anti-FC ADC. Additionally, it is the first ADC with a Topoisomerase I inhibitor-based linker/payload, to enter into clinical development in Australia, the USA and Europe. By design, it minimises the impact on the coagulation pathway, while the T1000-exatecan linker-payload technology platform amplifies the bystander effect. This should enhance linker stability, while also having the potential to overcome resistance mechanisms. Overall, ADCE-T02 could provide an improved safety profile, greater response rates, and longer response durations.
Michael Pehl, Chief Executive Officer of Adcendo, said: “We are highly impressed by the deep science behind Multitude Therapeutics’ linker/payload platforms and are delighted about our licensing agreement on ADCE-T02, which perfectly complements our existing unique first-in-class ADC pipeline and allows Adcendo to become a clinical-stage biotech company in Q4 2024. TF is an excellent ADC target with ample opportunity in high unmet need indications, as was recently reported at the annual ASCO congress. The highly differentiated profile of ADCE-T02 will enable a full capture of the potential of this target and will hopefully bring tangible progress to cancer patients in need.”
Dr Xun Meng, Chief Executive Officer of Multitude, added: "We are delighted to collaborate globally with Adcendo. The successful cooperation demonstrates that the T1000-exatecan linker-payload platform has played a significant role in multiple successful ADC pipelines. We look forward to Adcendo's experienced global clinical development team bringing ADCE-T02 to cancer patients in need as soon as possible.”
Regarding the financial terms, Multitude will receive upfront and milestone payments following development, regulatory, and commercial milestones which will total over $1B. Additionally, single-digit to low double-digit tiered royalties on potential future product sales were also confirmed.