Key Takeaways
- InnoCare Pharma and KeyMed Biosciences sold rights to cancer drug ICP-B02 for $17.5 million to Prolium Biosciences.
- ICP-B02 is in phase 1/2 trials for non-Hodgkin lymphoma and shows promising results in early patient responses.
- The deal may yield up to $502.5 million in milestone payments and royalties for InnoCare and KeyMed.
Overview of Recent Developments in Cancer Treatment
InnoCare Pharma and KeyMed Biosciences have entered into a significant agreement with Prolium Biosciences, a newly formed company by RTW Investments, granting international rights to their bispecific antibody, ICP-B02, for $17.5 million. This antibody, targeting CD20xCD3, is currently being tested in a phase 1/2 clinical trial in China for patients with relapsed or refractory non-Hodgkin lymphoma (NHL).
The early outcomes of this trial have been encouraging. According to the press release from January 20, all 13 patients treated with doses of 6 mg or higher exhibited a positive response to the antibody. Notably, the results are particularly promising for patients diagnosed with follicular lymphoma and diffuse large B-cell lymphoma.
In addition to the existing trials, InnoCare and KeyMed are planning a dose expansion trial that will evaluate the combination of ICP-B02 with other immunochemotherapy agents for earlier lines of NHL treatment, and they have received approval to conduct a study in the United States.
As a part of the agreement, U.S.-based Prolium will not only make the initial payment but will also be responsible for further development and commercialization of ICP-B02 for cancer treatments outside of China, as well as pursuing its potential in non-cancer indications worldwide. The two Chinese firms stand to gain further from the deal, with the possibility of up to $502.5 million in milestone payments and tiered royalties based on net sales. The financial benefits from this arrangement will be evenly shared between InnoCare and KeyMed, who will also take a minority equity stake in Prolium.
Prolium was established by RTW Investments in 2024, which has been actively involved in the biotech sector, including launching other companies such as Kailera Therapeutics. Additionally, January has been a busy month for KeyMed, as they were involved in launching Timberlyne Therapeutics in partnership with Mountainfield Venture Partners to advance a clinical-stage CD38-targeting antibody. KeyMed’s engagements also include establishing a joint venture with Lepu Biopharma, which received $63 million from AstraZeneca for an early-phase antibody-drug conjugate in 2023.
Overall, this transformational deal underscores the potential of ICP-B02 in treating NHL and reflects the strategic alliances forming within the biotech industry to expedite the development of innovative therapies.
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