Swedish Biotech Pockets $6M as its Cancer Antibody Heads for the Clinic
Alligator Bioscience will receive milestone payments from its partner, Janssen, following the announcement of a combination trial using its cancer antibody.
Alligator develops antibodies to fight cancer, and today it has announced that it will receive $6M (€5M) in milestone payments from Janssen. This was triggered by the announcement of a combination trial for its candidate, ADC-1013, which will be tested alongside one of Janssen’s PD-1 checkpoint inhibitors. Since the announcement earlier today, Alligator’s stock price has enjoyed a boost of almost 3%.
ADC-1013 is proposed to stimulate T cells to attack tumors by binding the CD40 co-stimulatory molecule on dendritic cells. The antibody may also kill cancer cells directly through a second mechanism. The candidate has already been tested in 23 patients with late-stage solid tumors in a Phase I trial, during which it was tolerated as both a mono- or combination therapy.
Antibody-based cancer therapies are poised to be an exciting area of biotech in 2018 – confirmed in the closing weeks of 2017 with Argenx raising a massive $231M (€195M) on the back of positive results at ASH. Alligator will also come up against the likes of MorphoSys, which last year enjoyed its first FDA approval and is developing cancer candidates.
Image – Andrea Izzotti / shutterstock.com
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