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Avacta and LG Chem Life Sciences Expand Partnership
Product News

Avacta and LG Chem Life Sciences Expand Partnership

Avacta and LG Chem Life Sciences Expand Partnership
Product News

Avacta and LG Chem Life Sciences Expand Partnership

Credit: geralt/Pixabay

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Avacta Group plc has announced the expansion of its existing multi-target collaboration and development agreement with LG Chem Life Sciences (LG Chem), the life sciences division of the South Korean LG Group, to include new programmes incorporating Avacta’s Affimer XT™ serum half-life extension system.

In December 2018, Avacta and LG Chem entered into a multi-target therapeutics development agreement to develop Affimer therapeutics in several disease areas potentially worth over $300m to Avacta. The companies have now agreed to expand this drug development partnership to include Avacta’s Affimer XT technology, which can be used to control the time a drug spends in the circulation.

The expansion of the partnership includes an undisclosed additional upfront payment, plus near-term preclinical milestones and longer-term clinical development milestones totaling $98.5m for two therapeutics to be developed using the Affimer XT technology. Under the terms of the extended agreement, LG Chem has the exclusive rights to develop and commercialize, on a worldwide basis, Avacta’s Affimer PD-L1 inhibitor with Affimer XT serum half-life extension.

The expanded partnership also provides LG Chem with rights to develop and commercialize other Affimer and non-Affimer biotherapeutics combined with Affimer XT half-life extension for a range of indications and Avacta could earn up to $55m in milestone payments for each of these new products.

In addition, under the agreement Avacta will earn royalties on all future Affimer XT product sales by LG Chem.

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