The Life Sciences team advised Duality Biologics to enter into an exclusive option agreement with GSK for a potentially best-in-class ADC candidate, DB-1324. Under the agreement, DualityBio will grant GSK an exclusive option to obtain a license to develop and commercialize DB-1324 worldwide (excluding mainland China, Hong Kong, and Macau) (the "Option"). Under the terms of the agreement, GSK will pay $30 million upfront and additional pre-option milestone payments to obtain an exclusive option for exclusive worldwide rights for DualityBio's ADC (excluding China's mainland, Hong Kong, and Macau). Upon GSK exercising the Option, DualityBio will receive an option exercise fee as well as potential development, regulatory and commercial milestone payments totaling up to $975 million.
Duality Biologics is a clinical-stage biotech company focusing on the discovery and development of next-generation antibody-drug conjugate (ADC) therapeutics to treat cancer, autoimmune diseases, and beyond. DualityBio has successfully built several cutting-edge ADC technology platforms with global intellectual property rights. Based on deep understanding of diseases, DualityBio has built a robust pipeline of ADCs, including several candidates in clinical stage. DualityBio has multiple ongoing global multi-regional clinical trials (MRCTs) across 17 countries with over 1,000 patients enrolled. In addition, DualityBio is leveraging its novel protein engineering and unique ADC technologies to develop the next generation of "Super ADCs", such as bispecific ADCs, ADCs with novel MOA payload and antibody-immune modulator-conjugates.
The Goodwin team was led by Wenseng “Wendy” Pan and consisted of Christopher Zhong, Longfei Fang and Yichen Xu; Arman Oruc and Simone Waterbury; Curtis McCluskey and Federica De Santis; Richard L. Matheny III, Justin C. Pierce and Gozde Guckaya; and Huiya Wu; with invaluable assistance from Laura W. Darkins.
For more information, please read the press release.