VelaVigo and Avenzo Partner to Advance Nectin4/TROP2 Bispecific Antibody-Drug Conjugate
Tuesday, November 19, 2024
VelaVigo Cayman has entered into an agreement with Avenzo Therapeutics.
The partnership grants Avenzo an exclusive option to license, develop, manufacture, and commercialise a novel Nectin4/TROP2 bispecific ADC globally, excluding Greater China.
VelaVigo will retain rights for Greater China and plans to collaborate with Avenzo in the global development of the programme. The agreement aligns with VelaVigo’s strategy to advance its pipeline and deliver innovative therapies to patients.
Established in 2021, VelaVigo has developed a pipeline featuring over ten first-in-class and best-in-class multi-specific antibodies and ADC candidates targeting oncology and autoimmune diseases. Its US subsidiary, VelaVigo Bio, Inc., supports clinical development and partnerships worldwide.
Under the agreement, VelaVigo will receive an upfront payment and up to $50 million in potential milestone payments upon Avenzo's exercise of the licensing option. Future development, regulatory, and commercial milestones could total approximately $750 million, alongside tiered royalties on sales within Avenzo’s licensed territories.
VelaVigo and Avenzo plan to submit an Investigational New Drug application to regulatory authorities in the US and China by 2025.
Source: prnewswire.com
