Regeneron is buying in to Modex Therapeutics’ next-generation antibody platform with a $7 million upfront payment and a total potential deal value exceeding $1 billion.
The New York-based biopharma will provide binders that ModeX will pair with its platform to fashion new multispecific antibodies for a range of disease areas, including immunology, oncology and metabolic diseases, according to an Oct. 29 release.
Regeneron will be responsible for funding preclinical, clinical and commercial development for any ModeX product it chooses to advance from the research pact, with ModeX eligible for milestone payments that could top $200 million for each chosen antibody.
ModeX’s platform, MSTAR, is designed to generate antibodies that can bind to multiple disease targets across different biochemical pathways.
“Our antibody candidates are already in clinical trials, providing unique disease target combinations and reliable manufacturing,” Elias Zerhouni, M.D., president and vice chairman of ModeX parent company OPKO Health, said in the release. “We believe this collaboration, with Regeneron’s outstanding team, will advance the development of multispecific antibodies across a spectrum of chosen indications in several disease areas of high interest to both parties.”
One of those clinical trials started just yesterday, with ModeX dosing the first patient in a phase 1/2 test of a trispecific antibody against advanced tumors. Massachusetts-based ModeX has also previously demonstrated that its antibodies can protect hamsters against multiple SARS-CoV-2 variants.
Regeneron is no stranger to the antibody game. The company's first antibody medicine, Praluent, developed with Sanofi, was approved by the FDA in 2015. The company’s pipeline today is chock-full of antibodies for a range of therapeutic areas, including cancer, ulcerative colitis, lung disease and allergies.
Last month, Regeneron’s allergen-blocking antibodies REGN1908 and REGN1909 scored phase 3 wins by reducing the symptoms of cat and pollen allergies.
“By pairing Regeneron’s expertise in drug development with ModeX’s platform for multi-specific antibodies, we are building on Regeneron’s longstanding work in bi-and multi-specific antibodies and increasing our shots on goal by identifying more candidates faster to potentially help patients across multiple disease categories,” George Yancopoluos, M.D., Ph.D., Regeneron’s president and chief scientific officer, said in the release.
ModeX’s other big biopharma partner is Merck, with the two companies teaming up for a phase 1 vaccine for Epstein-Barr virus. ModeX’s biggest benefactor since its 2020 launch has been the Biomedical Advanced Research and Development Authority (BARDA), which initially gave the biotech up to $168 million to develop Covid-19 antibodies in late 2023, tacking on an additional $35 million in October 2024.