US clinical-stage biotech ArriVent BioPharma (Nasdaq: AVBP) has entered into an exclusive license agreement with Shanghai-based Lepu Biopharma (HK: 02157) for MRG007, an antibody-drug conjugate (ADC) that can target several gastrointestinal (GI) cancers.
As a result, ArriVent – whose shares gained 5.2% to $26.62 on the news - obtains the exclusive rights to develop and commercialize MRG007 worldwide outside of Greater China which includes mainland China, Hong Kong, Macau and Taiwan. Under the terms of the agreement, Lepu Biopharma has granted ArriVent exclusive global rights to develop, manufacture and commercialize MRG007 outside of Greater China.
This is the second ADC deal for ArriVent, which last year linked up with China’s Alphamab Oncology (HKG: 9966), to discover, develop and commercialize novel antibody-drug conjugates (ADCs) for the treatment of cancers.
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