Myricx Bio announced an antibody license agreement with Biocytogen Pharmaceuticals (Beijing) Co., Ltd. The agreement will enable Myricx to develop and commercialize ADCs based on an antibody developed using Biocytogen's proprietary RenMice®? platform and will expand Myricx's ADC pipeline of proprietary monoclonal antibodies (mAbs) against important cancer targets to which it conjugates its first-in-class selective cytotoxic payloads based on potent inhibitors of N-MyristoylTransferase (NMT), a completely novel concept in the ADC space. NMT is an enzyme that adds a specific lipid modification to a number of protein targets key to cancer cell survival.

Myricx is developing a pipeline of ADCs to address serious unmet needs in oncology based on its NMT inhibitor (NMTi) payload chemistry platform and has demonstrated excellent preclinical efficacy and safety across multiple solid tumour-associated antigens and cancer cell types. Under the terms of the agreement, Myricx will provide its proprietary linker and NMTi payload and Biocytogen will conjugate them with its RenMice®?-derived fully human antibody to make ADCs. Biocytogen will carry out feasibility tests for these ADCs as CRO services, and upon option exercise, Myricx will be responsible for further development and commercialization.

Biocytogen will receive an upfront payment and, subject to exercise, Biocytogen will be eligible to receive development and commercialization milestone payments, as well as single-digit royalties on net sales.