Announced Date: 2024-11-18 (November 18, 2024)
Asset Name:
Licensor: VelaVigo Bio (China)
Licensee (Buyer): Avenzo Therapeutics (USA)
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Asset Modality: BsADC (Bispecific Antibody-Drug Conjugate)
Asset Target: IGF-1R/TSHR Nectin4/TROP2
Current Stage: pre-IND
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Scope of Authority:
VelaVigo has granted Avenzo an exclusive option to an exclusive license to develop, manufacture and commercialize a potential first-in-class Nectin4/TROP2 bispecific ADC globally (excluding Greater China).
VelaVigo will maintain rights for Greater China and plans to collaborate with Avenzo in global development.
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Payment Detail:
VelaVigo will receive:
Upfront fee and potential near-term milestones upon option exercise by Avenzo of up to $50 million.
In addition, VelaVigo is eligible to receive future potential development, regulatory, and commercial milestone payments of up to approximately $750 million in total, as well as tiered royalties on sales in Avenzo’s territory.
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Link:
VelaVigo Announces Exclusive Option Agreement with Avenzo to License a Potential First-in-Class Nectin4/TROP2 Bispecific Antibody-Drug Conjugate
