Orion and Glykos Announce a Collaborative Research Initiative and Licensing Agreement Aimed at Advancing the Development of Next-generation ADCs
Monday, January 08, 2024
Orion Corporation and Glykos Finland Oy have jointly announced a research collaboration and licensing agreement for the development of next-generation antibody-drug conjugates (ADCs).
In this partnership, Orion will gain access to Glykos' proprietary ADC technologies, marking the initiation of an ADC program. The collaboration also holds the potential for expansion into two additional programs in the future. Orion will take on responsibilities such as target selection, research, development, and commercialization of up to three next-generation ADCs, with a specific focus on addressing solid tumors.
Glykos is set to receive milestone payments associated with various stages of the agreement, including signing, target selection, and sales milestones. Additionally, Glykos is entitled to royalties based on the commercial sales generated from the three ADC programs.
Outi Vaarala, Senior Vice President of Innovative Medicines and R&D at Orion, expressed enthusiasm about the collaboration, stating, "Collaboration with Glykos and the opportunity to leverage their ADC technology complements our research portfolio in oncology and underscores our commitment to developing new treatment options for cancer patients with unmet needs."
Juhani Saarinen, CEO of Glykos, highlighted the significance of their ADC technology being recognized by Orion, a respected pharmaceutical company. Saarinen stated, "The acknowledgment of our ADC technology by an esteemed pharmaceutical company like Orion is a strong statement to the transformative potential of these technologies in enhancing the therapeutic index of ADCs. We look forward to partnering with Orion and believe that with their expertise in cancer therapies and robust clinical pipeline, this collaboration can deliver innovative medicines for cancer patients."
Source: globenewswire.com
