Leap Therapeutics and BeiGene announced an exclusive option and license agreement for the clinical development and commercialization of Leap’s cancer drug, DKN-01.
The deal will allow China-based BeiGene the opportunity to combine Leap’s anti-DKK1 antibody with its recently approved anti-PD-1 checkpoint inhibitor, tislelizumab, to treat gastric cancer patients.
Under the terms of the agreement, U.S.-based Leap, a biotechnology company developing targeted immuno-oncology therapeutics, will receive an upfront cash payment of $3 million from BeiGene in exchange for granting BeiGene an option to an exclusive license to develop and commercialize DKN-01 in Asia (excluding Japan), Australia, and New Zealand.
In addition, Leap announced it was entering into an agreement for a $27 million equity financing with BeiGene and two institutional investors.
Read the press release