[China BD 2024] Allorion and Avenzo enters a 1 billion USD License on CDK2 Inhibitor AVZO-021 (ARTS-021)

Announced Date: 2024-01-04 (January  4, 2024)

Asset Name: AVZO-021 (ARTS-021)

Licensor (Seller): Allorion Therapeutics (China)

Licensee (Buyer): Avenzo Therapeutics (US)

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Asset Modality: Small Molecule

Asset Target: cyclin-dependent kinase 2 (CDK2) selective inhibitor

Potential Indication: advanced solid tumors

Current Stage: Phase I

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Scope of Authority:

Avenzo will develop and commercialize AVZO-021 (formerly ARTS-021) globally (excluding Greater China).

Avenzo also receives an exclusive option for an additional preclinical program planned for IND submission in early 2025.

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Payment Detail:

Allorion will receive

Upfront payment of $40 million,

Development, regulatory and commercial milestones and tiered royalties on net sales by Avenzo.

Potential payments for both programs may total more than $1 billion.

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Link:

Avenzo Therapeutics Announces Global License of AVZO-021 (ARTS-021), a Potentially Best-in-Class Clinical Stage CDK2 Inhibitor from Allorion Therapeutics | Avenzo Therapeutics (avenzotx.com)

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Note:

Chinese Name of Allorion Therapeutics, 安锐生物