IDEAYA Biosciences, Inc. announced on November 11, 2024, that it has exercised its option for an exclusive worldwide license for Biocytogen's B7H3/PTK7 BsADC program, IDE034, and nominated it as a development candidate. IDE034 is a potential first-in-class B7H3/PTK7 topo-I-payload bispecific ADC.
Under the terms of the agreement, Biocytogen will receive upfront and option exercise fees, along with additional development and regulatory milestone payments, commercial milestone payments, and royalties on net sales, totaling $406.5 million. This includes up to $100 million in development and regulatory milestone payments.
IDE034 has demonstrated significant tumor regression in preclinical models and targets solid tumors with B7H3/PTK7 co-expression, such as lung, colorectal, and head and neck cancers. IDEAYA is targeting an Investigational New Drug (IND) submission to the U.S. FDA in 2025 for IDE034.
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