BEIJING & BOSTON -- Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”, HKEX: 02315), a global biotech company focusing on the discovery of novel antibody therapeutics, today announces that it has entered into an Exclusive Option and License Agreement with Radiance Biopharma Inc. (“Radiance”), a biotechnology company specializing in developing next generation Antibody Drug Conjugates.

The agreement grants Radiance an option to license from Biocytogen a first-in-class fully human anti-HER2/TROP2 bispecific antibody-drug conjugate (BsADC) for therapeutic product development, manufacturing and commercialization for all human indications worldwide. HER2 and TROP2 are two tumor-associated antigens (TAAs) that have been found to be commonly expressed and co-expressed by multiple tumor types, including breast, gastric, colorectal, bladder, pancreatic, and non-small-cell lung cancer.

Under the terms of the agreement, upon the option exercised, Biocytogen will be entitled to receive an option fee, licensing fee, development and commercialization milestone payments, as well as single-digit royalties on net sales. In addition, Biocytogen has the right to collect the sharing of sublicensing fee, if any, between Radiance and third party.

Dr. Yuelei Shen, President and CEO of Biocytogen, said: “We are excited to collaborate with Radiance, a strong team with extensive experience in drug development, to develop a leading proprietary fully human bispecfic antibody drug conjugate. We are optimistic that the combination of our strength in BsADC discovery and the extensive experience of Radiance’s team will help expedite the commercialization of this dual-targeting BsADC”:

Marc Lippman, MD, Chairman of the Board of Radiance said: “We are excited to enter into this Exclusive Option and License Agreement with Biocytogen for a novel human anti- HER2 and Trop2 Bispecific Antibody Drug Conjugate. Preclinical data from in vitro and in vivo assays of this BsADC shows promising high potency of anti-tumor activities in leading tumor indications. We are eager to work with Biocytogen to move the product to the clinic to benefit patients.”