Formosa Pharmaceuticals has entered into an exclusive licensing agreement with Almac Discovery for exclusive rights to the commercialization of ALM-401, a first-in-class, bispecific antibody drug conjugate (ADC) for the treatment of solid tumors characterized by the dual expression of EGFR and ROR1. Almac Discovery focuses on protein homeostasis and next-generation antibody drug conjugates. Their portfolio of preclinical and clinical stage drug candidates comprises both small and large molecule modalities, and benefits from collaboration and licensing partnerships with global R&D-focused biotech and pharmaceutical organizations. The licensing agreement includes upfront payment and development milestones, with additional considerations through approval and post-commercialization.
ALM-401's core is a novel bispecific antibody engineered to be smaller in size by utilizing a single-chain architecture. This critical attribute potentially enhances epitope engagement and tumor penetration and is designed to improve ease of manufacturing. The ADC has demonstrated durable and sustained tumor regressions in multiple solid tumor models, such as NSCLC, whilst also inducing a pronounced bystander effect to further boost overall therapeutic effect.
"Formosa Pharma is pleased to have this opportunity to bring ALM-401 into our development pipeline. This novel, next-generation ADC complements our corporate strategy and resources and promises to deliver a differentiated therapy to cancer patients worldwide. We look forward to collaborating closely with Almac Discovery in advancing this exciting program through clinical trials, commercialization, and beyond." said Dr. Erick Co, President and CEO of Formosa Pharmaceuticals.
"We are pleased to have met Formosa's exacting selection requirements for Next Generation ADC candidates," said Dr Stephen Barr, President and Managing Director of Almac Discovery. "This agreement allows the seamless progression of the molecule into clinical evaluation, driven by Formosa."
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