Israel’s Biond Biologics to get $125 million from Sanofi to develop cancer drug

Israeli cancer immunotherapy firm startup Biond Biologics said Tuesday it has entered an exclusive worldwide license agreement with Paris-based multinational pharma firm Sanofi for the development and commercialization of its flagship anti-tumor drug BND-22.

Under the terms of the agreement, Biond will get an upfront payment of $125 million in cash and could get $1 billion once it meets development, regulatory and sales milestones, as well as tiered double-digit royalty payments, the Israeli firm said in a statement.

Biond will lead the first-in-human, phase 1a study of BND-22, evaluating its safety and tolerability as a single drug and also in combination with approved cancer therapeutics. The firm will also explore potential associations between the anti-tumor activity of BND-22 and select tumor and blood-based biomarkers.

Sanofi will take on clinical development and commercialization responsibilities for the drug, Biond said.

An Investigational New Drug (IND) application for BND-22 has recently been submitted to the US Food and Drug Administration, and a phase 1 study to evaluate the safety, tolerability, and preliminary anti-tumor activity of BND-22 in advanced cancer patients is planned to start by mid-2021, the statement said.

Biond was founded in 2016, by Tehila Ben-Moshe and Ori Shilo. The lead investors in the company are the Israel Biotech fund (“IBF”) and Harel Insurance, the statement said. The firm has raised to date some $17 million, according to the database of Start-Up Nation Central.

You’re serious. We appreciate that!

That’s why we come to work every day – to provide discerning readers like you with must-read coverage of Israel and the Jewish world.

So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.

For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.

Join Our Community

Join Our Community

Already a member? Sign in to stop seeing this

Source link

What do you think?

Written by Aakash Malu


Leave a Reply

Your email address will not be published. Required fields are marked *





Mining rigmaker MicroBT is planning a US IPO: report · TechNode

Indonesia-based venture capital firm Intudo Ventures launches fellowship program