Avenzo's second trip to China

The private US biotech Avenzo Therapeutics has dipped a second toe into China-originated molecules, striking a deal over a potential second pipeline project. The tie-up, with China's VelaVigo, covers western rights to a bispecific anti-Nectin-4 x TROP2 ADC coded VBC103, which is at the preclinical stage and has attracted $50m in up-front and possible near-term milestone fees from Avenzo. In January Avenzo went to China to gain rights to a CDK2 inhibitor, licensing for $40m Allorion Therapeutics' ARTS-021/AVZO-021, which is now in a phase 1/2 US study. Avenzo has raised significant cash from venture financiers, in March closing a $150m series A round, which was this week topped up to $386m. Bispecific ADCs are still a relative rarity, as are anti-Nectin-4 x TROP2 bispecifics using any modality; OncologyPipeline reveals no other industry projects beyond VBC103 that target both antigens. However, the approach has some scientific backing: Dana-Farber ran a study combining Gilead's anti-TROP2 ADC Trodelvy with Pfizer's anti-Nectin-4 ADC Padcev, and found a 70% response rate among 23 urothelial carcinoma patients. Merck & Co is investigating a similar combo, of sacituzumab tirumotecan with Padcev, in the phase 1/2 Keymaker-U04 trial.

Avenzo's licensing deals

Source: company statements.