Celltrion partners with Canada's iProgen Biotech

South Korea’s Celltrion (Kosdaq: 068270) saw its share rise 1.82% to 195,500 won after it revealed it has agreed to partner for the development of novel ADCs against validated antibody targets, including HER21 and CD202  with Canada-based iProgen Biotech.

No financial terms of the collaboration were revealed.

The terms of the partnership agreement include: (1) Celltrion manufactures and supplies four recombinant antibodies to iProgen, among which two are HER2 and CD20 targeting, selected by Celltrion, and two additional targets to be selected by iProgen, (2) Celltrion provides supports for the Chemistry, Manufacturing, and Control (CMC) activities for the investigational new drug (IND) application and the Phase-I clinical trial, (3) iProgen conducts the Phase-I clinical trial using these drug candidates, and (4) upon completion of Phase I, Celltrion has the right of first negotiation on these drug candidates for global in-licensing.