Ipsen has entered into an agreement worth up to $900m to gain exclusive worldwide rights to develop and commercialise Sutro Biopharma’s preclinical antibody-drug conjugate (ADC) targeting solid tumours.
ADCs are a new class of cancer therapies designed to precisely target and kill tumour cells while sparing healthy ones.
Sutro’s STRO-003, which will be the first ADC candidate to be added to Ipsen’s portfolio, targets a tumour antigen that is known to be overexpressed in many different cancer types, including solid tumours and haematological malignancies.
Mary Jane Hinrichs, senior vice president and head of early development at Ipsen, said: “The potential for ADCs in oncology is well-documented and we are excited by the addition of STRO-003, Ipsen’s first ADC candidate with best-in-class potential.”
Under the terms of the agreement, Ipsen will assume responsibility for phase 1 preparation activities for the asset, such as the submission of an Investigational New Drug application, and all subsequent clinical-development activities and global commercialisation activities.
In exchange, Sutro will be eligible to receive up to $900m in potential upfront, development, regulatory and commercial milestone payments, including approximately $90m in near-term payments, and tiered royalties on global sales.
Hinrichs said: “STRO-003 is a next-generation ROR1 ADC, leveraging Sutro’s site-specific technology to generate a highly stable conjugate, coupled with exatecan payloads, that have shown significant potential in solid tumours.
“This is our focus as we prepare to enter phase 1, harnessing Ipsen’s global expertise in oncology development while also reinforcing our commitment to bringing new medicines to patients with few treatment options.”
Also commenting on the agreement, Jane Chung, president and chief operating officer at Sutro, said: “We are excited to partner STRO-003 with Ipsen to help us reach more patients faster while retaining significant downstream participation in a medicine in which we believe… We look forward to collaborating with Ipsen’s impressive oncology development team to bring a differentiated ROR1-targeted ADC to patients.”
The deal comes less than one month after Ipsen’s Cabometyx (cabozantinib) and Bristol Myers Squibb’s Opdivo (nivolumab) were recommended by the National Institute for Health and Care Excellence as a combination treatment for advanced kidney cancer.
Ipsen’s Onivyde (irinotecan liposome injection) regimen also received US Food and Drug Administration approval in February to treat pancreatic cancer.