French drugmaker Ipsen has inked a global licensing agreement with Sutro Biopharma for an antibody-drug conjugate in the final stages of preclinical development.
Ipsen’s will pick up its first ADC candidate through the deal. The asset, STRO-003, targets the ROR1 tumor antigen known to be overexpressed in many different cancer types including solid tumors and hematological malignancies.
Under the terms of the agreement, Ipsen will hand California-based Sutro up to $900 million in upfront payments including an equity investment and tiered royalties on global sales. Ipsen will take over the phase 1 preparation activities, including submission of the IND application, and all subsequent clinical development and global commercialization.
Ipsen just had a big oncology win back in February when the FDA approved the drugmaker's liposomal topoisomerase inhibitor, Onivyde, in combination with oxaliplatin, fluorouracil and leucovorin as a first-line treatment for metastatic pancreatic adenocarcinoma, a particularly aggressive form of cancer with limited treatment options and a poor prognosis.
