Instil Bio and ImmuneOnco Announce License and Collaboration Agreement for Development of IMM2510, a Potentially Best-in-Class PD-L1xVEGF Bispecific Antibody, and IMM27M, a Novel Next-Generation Anti-CTLA-4 Antibody
August 01 2024 - 6:00AM
Instil Bio, Inc. (Nasdaq: TIL, “Instil”) and ImmuneOnco
Biopharmaceuticals (Shanghai) Inc. (HKEX Code: 1541.HK,
“ImmuneOnco”), today announced a definitive agreement pursuant to
which Instil is in-licensing ex-China development and commercial
rights to ImmueOnco’s proprietary PD-L1xVEGF bispecific antibody,
IMM2510, as well as its next-generation anti-CTLA-4 antibody,
IMM27M.
IMM2510 is a novel, potentially best-in-class bispecific
antibody consisting of an anti-PD-L1 antibody fused to a vascular
endothelial growth factor (VEGF) receptor “trap” which binds VEGF.
IMM2510 is differentiated from other PD(L)1xVEGF antibodies by its
ability to bind multiple VEGF receptor ligands beyond VEGF-A, a
smaller molecular weight allowing for potentially better tumor
penetration, and enhanced antibody-dependent cellular cytotoxicity
(ADCC) designed to improve tumor killing. IMM2510 has completed a
dose-escalation clinical trial for advanced solid tumors and
demonstrated multiple responses including patients with squamous
non-small cell lung cancer (NSCLC) who previously failed PD-1
inhibitors.
IMM27M is a next-generation anti-CTLA-4 antibody with enhanced
ADCC activity, which has been designed to promote intratumoral
regulatory T cell depletion to enhance the efficacy and reduce the
toxicity associated with first-generation anti-CTLA-4 antibodies.
IMM27M has completed a dose-escalation clinical trial demonstrating
anti-tumor activity in patients with advanced solid tumors and has
entered combination studies with IMM2510 in China in July 2024.
Terms of License and Collaboration
AgreementUnder the terms of the agreement, a wholly owned
subsidiary of Instil will receive global development and
commercialization rights for IMM2510 and IMM27M outside of Greater
China, while ImmuneOnco will retain development and
commercialization rights in Greater China including Taiwan, Macau,
and Hong Kong. ImmuneOnco will receive an upfront payment and
potential near-term payments of up to $50 million as well as
potential additional development, regulatory, and commercial
milestones exceeding $2 billion plus single digit to low
double-digit percentage royalties on global ex-China sales.
About Instil BioInstil Bio is a clinical-stage
biopharmaceutical company focused on developing a pipeline of novel
therapies. Instil’s lead asset, IMM2510, is a novel and
differentiated PD-L1xVEGF bispecific antibody in development for
the treatment of multiple solid tumor cancers. For more information
visit www.instilbio.com.
About ImmuneOncoImmuneOnco is a clinical-stage
biotech company focused on discovery and development of biologics
to treat cancers and other diseases. With 10+ assets all originated
in-house and the most advanced asset in phase III right now,
ImmuneOnco is pursuing innovative therapies to improve patients’
health. For more information visit www.immuneonco.com.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Words such as
“anticipates,” “believes,” “expects,” "expected,” “exploring,”
“future,” “intends,” “may,” “plans,” “potential,” “projects,” and
“will” or similar expressions are intended to identify
forward-looking statements. Forward-looking statements include
express or implied statements regarding Instil’s expectation with
respect to the license and collaboration agreement, including
clinical development of IMM2510 and IMM27M and the therapeutic
potential of IMM2510 and IMM27M, and other statements that are not
historical fact. Forward-looking statements are based on Instil
management's current expectations and are subject to various risks
and uncertainties that could cause actual results to differ
materially and adversely from those expressed or implied by such
forward-looking statements, including risks and uncertainties
associated with in-licensing product candidates and clinical trial
collaborations; the costly and time-consuming product development
process and the uncertainty of clinical success; the risks inherent
in relying on collaborators and other third parties, including for
manufacturing; the risks and uncertainties related to successfully
initiating, enrolling, completing and reporting data from clinical
studies, as well as the risks that results obtained in clinical
trials to date may not be indicative of results obtained in ongoing
or future trials and that Instil’s product candidates may otherwise
not be effective treatments in their planned indications; risks
related to macroeconomic conditions, including as a result of
international conflicts, U.S.-China trade and political tensions,
interest rates, inflation, and other factors, which could
materially and adversely affect Instil’s business and operations;
the risks and uncertainties associated with the time-consuming and
uncertain regulatory approval process and the sufficiency of
Instil’s cash resources; and other risks and uncertainties
affecting Instil and its plans and development programs, including
those discussed in the section titled “Risk Factors” in Instil’s
Quarterly Report on Form 10-Q for the quarter ended March 31, 2024
filed with the SEC, as well as Instil’s other filings with the SEC.
Additional information will be made available in other filings that
Instil makes from time to time with the SEC. Accordingly, these
forward-looking statements do not constitute guarantees of future
performance, and you are cautioned not to place undue reliance on
these forward-looking statements. These forward-looking statements
speak only as the date hereof, and Instil disclaims any obligation
to update these statements except as may be required by law.
Contacts:
Investor
Relations:1-972-499-3350investorrelations@instilbio.comwww.instilbio.com
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