BNTX - BioNTech licenses solid tumor candidate from OncoC4

2023-03-20 11:54:54 ET

BioNTech ( NASDAQ: BNTX ) announced an exclusive license and collaboration agreement with Rockville, Maryland-based biopharma OncoC4 on Monday to jointly develop and commercialize the latter’s experimental cancer candidate, ONC-392, for various solid tumor indications.

ONC-392 is an anti-CTLA-4 monoclonal antibody candidate designed to kill immunosuppressive T cells (regulatory T cells, “Tregs”) in tumors without impacting Tregs in healthy tissues.

“We believe that this antibody is a valuable addition to our immuno-oncology portfolio, whether used alone or in combination with our personalized immunotherapies,” BioNTech ( BNTX ) Chief Executive Ugur Sahin said.

Under the partnership, BioNTech ( BNTX ) and OncoC4 will equally share the costs to develop ONC-392 as monotherapy and in combination with anti-PD-(L)-1 antibodies for multiple solid tumors, including non-small cell lung cancer.

Per the terms, OncoC4 will receive $200M upfront in addition to future payments linked to development, regulatory and commercial milestones, and double-digit tiered royalties.

The transaction is expected to close in H1 2023, and the companies plan to initiate a randomized Phase 3 trial for ONC-392 this year.

Seeking Alpha contributor Clinically Sound Investor issued a Buy rating on BioNTech ( BNTX ) early this month, citing multiple near-term catalysts for the biotech.

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