First 2024 deals pick up where 2023 left off
The first business day of 2024 saw two small deals in areas that have already proven hot: antibody-drug conjugates and China. Roche hit both trends, signing a collaboration with the Chinese ADC developer MediLink, while AstraZeneca signed up Allorion Therapeutics for access to a novel EGFR inhibitor – following last week’s buyout of another China-based group, Gracell. Both of today’s deals involve preclinical projects: MediLink’s YL211, a cMet-targeting ADC for solid tumours, and Allorion’s unnamed allosteric EGFR L858R inhibitor for non-small cell lung cancer. The latter is designed to address resistance to current EGFR inhibitors, including Astra’s own Tagrisso, and it appears that Astra might want to combine the Allorion project with its agent. MediLink, meanwhile, claims that YL211 could have advantages over other cMet-targeting ADCs, the most advanced of which is AbbVie’s Teliso-V, currently in phase 3. MediLink therefore has a long way to go to catch its rivals, but the endorsement from Roche should give it a boost – although, like Astra’s agreement with Allorion, the deal is heavily backend loaded.
ADCs and China: the first oncology deals of 2024
| Large partner | Small partner | Project(s) included | Deal type | Terms |
|---|---|---|---|---|
| AstraZeneca | Allorion Therapeutics | Unnamed novel EGFR L858R allosteric inhibitor | Licensing | $40m up front/near term; up to $500m milestones |
| Roche | MediLink Therapeutics | YL211 (cMet-targeting ADC) | Collab/licensing | $50m up front/near term; total value up to $1bn |
Source: company releases.
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