Conoya sells global interest in Claudin 11.88 ADC for $18.2 billion

On February 2, Conoya-B (23) announced that KYM Biosciences Inc. (KYM), a non-wholly-owned subsidiary of the Group in which the Group has a 02162% interest, has entered into an exclusive global license agreement with AstraZeneca AB to develop and commercialize CMG70.

CMG901 is a major product jointly developed by Conoya and Innocube Limited, a minority shareholder in LEPU Biotechnology Co., Ltd. with a 30% interest in KYM.

Upon signing the License Agreement and subject to its terms and conditions (including obtaining certain regulatory approvals in connection with the Licensing Transaction), AstraZeneca will be granted an exclusive worldwide license to research, develop, register, manufacture and commercialize CMG901 and will be responsible for all costs and activities associated with its further development and commercialization under the License Agreement. Subject to the license agreement and subject to its terms and conditions, KYM will receive an upfront payment of US$63 million and additional potential payments of up to US$1,125 million upon completion of certain developmental, regulatory and commercial milestones. KYM is also entitled to receive a tiered royalty fee from AstraZeneca. KYM has a responsibility to provide assistance and personnel to facilitate the transfer of technology and expertise. Unless otherwise agreed, AstraZeneca will be responsible for all costs of development and regulatory affairs activities related to ongoing experiments with respect to CMG901.

About CMG901

CMG901 is an antibody conjugate (ADC) targeting Claudin 18.2, containing Claudin 18.2-specific antibody, lyzable linker and toxic load, and monomethyl orestatin E (MMAE), which is the first Claudin 18.2 antibody conjugate drug to obtain clinical trial approval in both China and the United States. The expression of Claudin 18.2 in gastric cancer, pancreatic cancer and other solid tumors is highly selective and extensive, making it an ideal target for tumor treatment.

In the first half of 2022, CMG901 has completed the enrollment of patients in the dose-escalation phase of the phase I clinical trial of solid tumor subjects, and plans to display and disclose the data of the phase I clinical trial in the form of academic papers/society meetings in the future. In addition, Conoya has simultaneously launched the dose-expansion phase trial of CMG2022 in the phase I clinical trial of solid tumor subjects in China in the second quarter of 901, and has disclosed the latest results of the Phase Ia dose-escalation trial on January 2023, 1.

In April 2022, CMG4 was granted Fast Track status by the US Food and Drug Administration ("FDA") for the treatment of relapsed/refractory gastric cancer and gastroesophageal junction adenocarcinoma. Previously, we were granted FDA orphan drug designation for this indication.