Adding to ADC port­fo­lio, As­traZeneca en­ters po­ten­tial $600M li­cens­ing deal with Chi­nese start­up

As­traZeneca is pay­ing up to Shang­hai-based LaNo­va Med­i­cines for one of the biotech’s pre­clin­i­cal stage an­ti­body-drug con­ju­gates (ADC), dubbed LM-305, fol­low­ing a li­cens­ing deal ear­li­er this year for an­oth­er Chi­na-de­vel­oped ADC.

In ex­change for an ex­clu­sive glob­al li­cense, LaNo­va is el­i­gi­ble for up­front and near-term pay­ments of up to $55 mil­lion and ad­di­tion­al mile­stone pay­ments of up to $545 mil­lion, as well as tiered roy­al­ties on glob­al net sales.

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