Hummingbird snags $430 million ADC deal with Endeavor
Singapore-based biotech Hummingbird Bioscience today announced that San Diego, USA-based Endeavor BioMedicines has acquired exclusive worldwide rights to Hummingbird’s antibody-drug conjugate (ADC), HMBD-501.
The ADC sector has attracted huge interest on the last couple of years, with hardly two days passing without a licensing deal being announced. In 2021, the ADC market was worth $4 billion and is forecast to rise to $13.13 billion by 2030, delivering a CAGR 2021-2030 of 14.12%. 15 ADCs have so far received regulatory approval and more than half treat solid tumors.
This latest license agreement provides Endeavor with exclusive rights to HMBD-501, a next-generation HER3-targeted ADC with an exatecan payload that has been optimized for safety and efficacy.
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