ZHUZHOU, China & BOSTON–(BUSINESS WIRE)–Zonsen PepLib Biotech Inc. (“PepLib”) today announced that it has entered into a worldwide license agreement with Novartis for an undisclosed peptide-based asset in the field of radioligand therapies (RLTs). Under the agreement, Novartis has obtained an exclusive worldwide license and will be responsible for the development and commercialization activities for the asset.
The asset has been developed internally by PepLib to date. Through this transaction, Novartis, an experienced global leader in RLTs, will advance the program to its next stage of development. The asset is expected to complement Novartis’ existing RLT portfolio and to leverage the company’s strong capabilities in the field to potentially bring a new targeted treatment option to patients worldwide.
“We are pleased to announce this new agreement with Novartis, a global leader in radioligand therapies,” said Lei Chen, Chairman and Co-founder of PepLib. “We have advanced this peptide asset internally and believe that Novartis, with its deep expertise and proven track record in RLTs, is well-positioned to take the program forward and help translate our early work into a potential medicine for patients.”
“Novartis is committed to expanding and strengthening our radioligand therapy portfolio to transform care for patients,” said Shiva Malek, Global Head of Oncology, Biomedical Research, Novartis. “This asset complements our industry-leading efforts to advance promising next-generation RLTs and builds on our pipeline of innovative therapies for people living with cancer.”
Under the terms of the agreement, PepLib will receive an upfront payment of USD 50 million, with the potential to receive additional development, regulatory, and sales milestone payments, and is also eligible for tiered royalties on future global net sales.
About Zonsen PepLib Biotech Inc.
Zonsen PepLib Biotech Inc. is an innovative biotechnology company dedicated to the discovery and development of novel peptide-based therapeutics aimed at improving treatment options for patients worldwide. Founded in September 2017, PepLib is headquartered in Zhuzhou, China, with operations in Changsha, China, and a subsidiary in New Jersey, USA. PepLib employs more than 200 people, over 80% of whom are engaged in research and development.
PepLib has established a robust and diverse suite of proprietary peptide libraries and discovery capabilities, with a primary therapeutic focus in oncology and cardiometabolic diseases. PepLib’s platforms support multiple peptide-based modalities, including peptide radionuclide conjugates (PRCs), peptide oligonucleotide conjugates (POCs), and peptide drug conjugates (PDCs).
Contacts
Contact person:
Weiliang(Timo) Xu, Associate Director of Business Development
xu_weiliang@peplib.com
