Orion Corporation and Alligator Bioscience announced that they have entered into a research collaboration and licenseagreement to discover and develop together new bispecific antibody cancer therapeutics. The research collaboration is focused on the discovery of novel bispecific antibodies directed towards immuno-oncology targets selected by Orion. The agreement covers an option to develop three bispecific antibodies.

The agreement calls for Alligator Bioscience to employ its proprietary phage display libraries and RUBY™ bispecific platform to develop immuno-oncology product candidates based on design criteria identified by Orion. During the research period of the collaboration, Alligator Bioscience will receive an upfront payment and research support payments. Should Orion trigger its option to continue development and commercialization of the product candidates, Alligator Bioscience would be eligible for development, approval and sales milestone payments for all three projects in addition to royalties.