Dealmakers at BeiGene, Brii Biosciences and Ideaya Biosciences had a busy end to the year, sharing news of agreements for antibody-drug conjugates (ADCs) and other assets in the final few days of 2024.
Ideaya wrote the biggest check. The California-based biotech is paying Jiangsu Hengrui Pharmaceuticals $75 million upfront for rights to a DLL3-directed ADC outside of greater China. Hengrui is studying the ADC, which is called SHR-4849, in a phase 1 trial in China. Ideaya plans to file to test the drug candidate in humans in the U.S. in the first half of 2025.
The deal establishes Ideaya as a player in the DLL3 space. The presence of the receptor in solid tumors including small cell lung cancer has attracted companies such as Amgen, which sells the DLL3 bispecific Imdelltra, and Merck & Co., which nabbed a trispecific T-cell engager in its Harpoon Therapeutics buyout. Ideaya believes SHR-4849 could be a first-in-class DLL3 topo-I-payload ADC.
Duality Biologics shared news of another ADC deal. The Chinese biotech said BeiGene has taken up its option to license the B7H4-directed ADC DB1312. BeiGene secured the option in 2023 in a deal that is worth up to $1.3 billion. DualityBio provided more details in its IPO paperwork in August, revealing the receipt of a $15 million upfront fee and a $25 million option payment.
Brii is paying $18 million to fully acquire the hepatitis B candidate BRII-179 from VBI Vaccines. The biotech licensed the candidate in 2023 as part of a deal worth $15 million upfront. In February 2024, Brii inked a deal to acquire the asset in agreements worth $2.5 million upfront. However, VBI then ended operations, and the agreements were never consummated.
By reaching an agreement with VBI and its creditor, Brii believes it has ensured the uninterrupted supply of BRII-179. The therapeutic vaccine candidate is part of the biotech’s attempts to develop a functional cure for hepatitis B. A phase 2b study involving BRII-179 is fully enrolled.