Tokyo (SCCIJ) – Numab Therapeutics, a young biotechnology company from Waedenswil in Switzerland, has expanded its relationship with Ono Pharmaceutical in Japan. The two partners are executing another research and option agreement to discover and develop a multi-specific antibody drug candidate for the treatment of various cancers. Also, two Japanese companies, Mitsubishi UFJ Capital and Eisai Pharma, participated in the latest financing round for Numab.
Numab Therapeutics searches for new drug candidates against cancer (© Numab)
Milestone payments
Similar to their earlier collaboration initiated in March 2017, under this new agreement, Ono has obtained an option to acquire from Numab exclusive rights to develop and commercialize an immuno-oncology drug candidate.
Ono will leverage Numab’s platform technology in order to actualize one of its own novel therapeutic approaches. In exchange, Ono will pay to Numab up to CHF 260 million in upfront and milestone payments plus tiered single to double digit royalties on sales.
Platform technology
“The announcement signals a mutual recognition of the quality and expertise that both parties have contributed under their first, ongoing agreement,” commented Oliver Middendorp, Chief Business Officer of Numab Therapeutics. Ono’s decision to enter another agreement based on Numab’s technology would be a clear validation of our platform.
“Also, it highlights their commitment to include multi-specific antibodies as major component of their pipeline strategy in oncology,” he added. “In addition to the drug candidate ND023 initiated under our original agreement, we are excited to collaborate with Ono on yet another truly differentiated mechanism of action with this new project.”
Financing round
In March, Numab Therapeutics has closed a Series B financing round at a total volume of CHF 22 million. New investors in this round included 3SBio/Sunshine Guojian, Mitsubishi UFJ Capital and Eisai, as well as Numab’s board member Daniel Vasella. Existing shareholders that participated in Numab’s Series A round also contributed to the financing.
Numab plans to further broaden its proprietary pipeline and accelerate the development for a number of programs towards the clinic. The company also plans to initiate a clinical trial for its lead oncology program ND021 during the course of 2020. This product is designed to balance potent anti-tumor immunity with a desirable safety profile. Since its foundation, Numab has generated revenues in excess of CHF 50 million through partnering activities.
The oncology-focused biopharmaceutical company based in Zurich-area wants to write the next chapter in cancer immunotherapy by creating multi-specific antibodies that enable the pursuit of novel therapeutic strategies. With the proprietary technology platform called ‘Match’, Numab aims to fuel a new wave of multi-specific drug candidates.
Text: Numab Therapeutics
