Daily Newsletter

08 September 2023

Daily Newsletter

08 September 2023

Biocytogen and Myricx Bio partner for development of ADCs

Biocytogen will receive payments related to the development and commercialisation of ADCs.

RanjithKumar Dharma September 08 2023

Biocytogen Pharmaceuticals (Beijing) and Myricx Bio have signed an antibody evaluation, option and licence agreement for the development of antibody-drug conjugates (ADCs).

Myricx will provide its linker and payload and Biocytogen will conjugate them with its RenMice-derived fully human antibodies to create ADCs.

Biocytogen will conduct feasibility testing for these ADCs as part of its CRO [contract research organisation] services. If the option is exercised, Myricx will become responsible for advancing their development and commercialisation.

Biocytogen will be eligible to receive an upfront payment and may also be entitled to milestone payments related to ongoing development and commercialisation, in addition to single-digit royalties based on net sales.

The company’s antibodies have undergone screening for specificity, cross-species reactivity, high affinity, developability and internalisation activity specifically for ADC applications.

NMT is an enzyme that attaches a specific lipid modification to proteins which are crucial for the survival of cancer cells.

Myricx is creating a series of ADCs to tackle significant unmet requirements in cancer treatment.

These ADCs are built upon Myricx's NMT inhibitor payload chemistry platform, demonstrating preclinical efficacy and safety across solid tumour-related antigens and types of cancer cells.

Biocytogen president and CEO Dr Yuelei Shen stated: “Myricx is a leading expert in NMTi payloads and we believe that the combination of both companies’ strengths will result in ADC drugs with first-in-class and best-in-class potential.”

M&A in the Contract Manufacturing Industry

Despite challenging business conditions in 2021 and 2022, large CMOs were still involved in acquisitions to enhance their capabilities or scale of production. Catalent and Recipharm were particularly active in acquiring companies during this period, and these acquisitions had a focus on advanced biologic capabilities related to cell and gene therapies. CMOs are increasingly targeting companies with sophisticated (biologic and specialized) capabilities to manufacture modern drugs and seek high-value contracts.

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