LaNova Med secures $600 million deal with AstraZeneca for LM-305

15 May 2023

Chinese biotech start-up LaNova Medicines revealed it has entered into an exclusive license agreement with UK pharma major AstraZeneca (LSE: AZN), for LM-305, a pre-clinical stage antibody drug conjugate (ADC) targeting G protein-coupled receptor, class C, group 5, member D (GPRC5D).

AstraZeneca will be granted an exclusive global license to research, develop and commercialize LM-305. The candidate comes to AstraZeneca with Investigational New Drug (IND) approvals already in place in the USA and China.

The asset is a good fit for AstraZeneca since the company halted development of MEDI2228, an anti-BCMA ADC for multiple myeloma in 2021.

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