Novimmune and LegoChem Biosciences collaborate on antibody drug conjugate

Privately-held Swiss biotech firm Novimmune and LegoChem Biosciences (Kosdaq: 141080), a South Korean company with a proprietary antibody drug conjugate (ADC) technology, have entered into a research collaboration to evaluate an antibody drug conjugate candidate.

Financial terms of the deal were not disclosed, but shares of LegoChem were down 3.8% at 27,950 South Korean won by late afternoon trading.

LegoChem has been successfully developing global partnerships through the potential of its proprietary ADC platform technology. In 2015, LegoChem out-licensed an anti-Her2-ADC molecule to Fosun Pharma. In October 2016 it signed a deal with Norway’s Nordic Nanovector (OSE: NANO) to develop novel CD37-targeting antibody-drug conjugates (ADCs) for the treatment of leukemias, and in January this year, signed a research licensing deal with Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502), to evaluate next-generation ADC candidates.