SHANGHAI, May 12, 2023 /PRNewswire/ -- LaNova Medicines Ltd. ("LaNova Medicines") announced today it has entered into an exclusive license agreement with AstraZeneca (LSE/STO/Nasdaq: AZN), for LM-305, a pre-clinical stage antibody drug conjugate (ADC) targeting G protein-coupled receptor, class C, group 5, member D (GPRC5D).

Under the terms of the licensing agreement, AstraZeneca will be granted an exclusive global license to research, develop, and commercialize LM-305. LaNova Medicines is eligible to receive an upfront and near-term payments of up to $55 million and additional development and commercial milestone payments of up to $545 million, as well as tiered royalties on net sales worldwide.

"LaNova Medicines has a strong focus on discovering and developing innovative medicines in the ADC and Immuno-Oncology fields. We're excited to reach this agreement with AstraZeneca. With the potential to become a first-in-class GPRC5D-directed ADC for multiple myeloma, LM-305 exemplifies our innovative and robust platform for ADC development. This agreement is further recognition of our exceptional pipeline assets and R&D capabilities. We are confident that AstraZeneca is the ideal company to advance LM-305 for the betterment of patients globally." said Dr. Crystal Qin, Founder, Chairman, and CEO of LaNova Medicines.

Nina Shah, Global Head of Multiple Myeloma, Haematology R&D, AstraZeneca, said: "We are pleased to have the opportunity to advance the development of LM-305, a novel GPRC5D-targeting antibody drug conjugate (ADC), as a potential new treatment option for relapsed/refractory multiple myeloma. LM-305 advances our leadership in ADCs and enriches our growing Haematology pipeline, helping us deliver against our broader ambition to transform clinical outcomes for patients living with blood cancers."

About LM-305

LM-305 is a novel GPRC5D-targeting antibody drug conjugate, consisting of an anti-GPRC5D monoclonal antibody, a protease-degradable linker, and a cytotoxic payload monomethyl auristatin E (MMAE). LM-305 is the 2nd product to emerge from LaNova's proprietary ADC platform. LM-305 has the potential to become a first-in-class GPRC5D-targeting ADC, with IND approvals in the United States and China.

About LaNova Medicines Ltd.

Founded in September 2019, LaNova Medicines is a series B privately held biotech company headquartered in Shanghai with a global reach. The company focuses on discovering novel biologic drugs in the fields of ADC and Immuno-Oncology, with a dedication to providing innovative therapies that have the potential to be best-in-class or first-in-class and address significant unmet medical needs.

LaNova Medicines' expertise lies in the discovery and development of innovative biologic drugs. The company's robust portfolio of biologic drug candidates is made possible by an industry-leading R&D engine comprising of three distinct platforms: a proprietary antibody platform capable of consistent production of antibodies against a variety of targets such as multi-transmembrane proteins and GPCRs, a clinical stage next-generation ADC platform that harnesses proprietary payload and linker technologies to construct highly differentiated ADCs, and a modular 4-1BB based immune-cell-engager (ICE) platform that enables efficient creation of therapeutic bispecific antibody against different tumor-associated antigens (TAAs).

LaNova Medicines' present pipeline consists of more than 10 innovative drug candidates. The company's leading clinical-stage programs include LM-302, a differentiated anti-Claudin 18.2 ADC licensed to Turning Point Therapeutics in 2022 for a total deal value of over 1 billion USD, LM-108, a potential best-in-class CCR8-targeting monoclonal antibody designed to address the unmet needs in PD-1 resistant cancer patients, and LM-101, an anti-SIRPα monoclonal antibody with strong potential to synergize with various anti-cancer agents such as anti-PD1 and ADC, all of which are currently being studied in Phase 1/2 studies. LaNova Medicines is dedicated to developing its portfolio for the benefit of patients around the world through internal R&D innovation and multifaceted external partnerships.

For more information, please visit www.lanovamedicines.com.

Source: LaNova Medicines