BeiGene drops license option for Leap's DKN-01
US biotech Leap Therapeutics (Nasdaq: LPTX) has revealed that Sino-American biotech BeiGene’s (Nasdaq: BGNE) option under the exclusive option and license agreement between the companies granting rights DKN-01, Leap's anti-DKK1 monoclonal antibody, has expired in accordance with the terms of the agreement.
Having plunged as much as 20% pre-market, Leap’s shares were still down 13% at $0.38 following the announcement.
Leap and BeiGene will continue to collaborate on the ongoing Part C of the DisTinGuish trial, a randomized controlled trial of DKN-01 in combination with BeiGene's anti-PD-1 antibody, tislelizumab, and chemotherapy in first-line gastric cancer patients, as a clinical collaboration with BeiGene supplying tislelizumab. Enrollment in the 160-patient study is expected to be completed in late 2023.
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