BRIEF—Pheon agrees license deal with Biocytogen

British antibody-drug conjugate (ADC) company Pheon Therapeutics has inked an exclusive license agreement with China’s Biocytogen Pharmaceuticals.

Biocytogen, a firm focused on the discovery of novel antibodies, will provide a license for the development and commercialization of a candidate using its RenMice platforms.

Biocytogen will receive an undisclosed upfront payment, development and commercial milestone payments, plus single-digit royalties if all goes well.

Pheon launched in March 2022 with a $68 million series A financing.

Chief executive Bertrand Damour said: “This license agreement represents a significant expansion of Pheon’s pipeline, and it enhances our ability to successfully develop the next generation of ADCs.”