Celltrion Inc.’s headquarters in Songdo, Incheon (image: Celltrion)
SEOUL, Sept. 21 (Korea Bizwire) — South Korean biopharmaceutical firm Celltrion Inc. said Wednesday it has signed a deal to jointly develop a bispecific breast cancer treatment candidate of Abpro Corp. of the United States.
Under the deal, Celltrion and Abpro will work together for the development and market release of breast cancer treatment candidate ABP 102. Celltrion will be rewarded US$10 million in milestone payments after successfully passing key stages of the development and approval cycle.
Celltrion will also be eligible to collect $1.75 billion from Abpro after ABP 102 generates sales following its market debut. It has secured the rights for the global sales of the candidate as well.
The Incheon-based South Korean bio company will handle testing, clinical trials and commercialization of the candidate.
ABP 102 is a dual antibody treatment used to treat HER2-positive breast cancer, which occurs when the HER2 receptor, which transmits a signal to promote growth of cancer cells, is excessively expressed.
Based in Massachusetts, Abpro specializes in the development of bispecific antibody treatments. In addition to ABP 102, the company, established in 2007, is developing eight other cancer treatment candidates, according to Celltrion.
(Yonhap)
