Innovent Biologics, Inc., a biopharmaceutical company that develops, manufactures, and distributes monoclonal antibody injection, protein drugs, and other related products, has announced its collaboration with Bolt Biotherapeutics, Inc., a publicly-traded biotechnology company that develops Boltbody™ ISAC (Immune-stimulating Antibody Conjugates).
According to credible reports, the collaboration will be focused on developing three new anti-cancer therapeutic immune-stimulating antibody conjugate (ISAC) candidates.
Bolt's innovative ISAC technology and myeloid biology proficiency will be combined with Innovent's exclusive therapeutic antibody repertoire and detection capability to generate three new cancer medicines against oncology targets with the potential to bring considerable benefit to patients.
A tumor-targeting antibody, a stable non-cleavable linker, and a novel immune stimulant are all combined in the Boltbody ISAC platform.
Boltbody ISACs merge antibody targeting precision with the strength of innate and adaptive immune system responses.
With this partnership, Innovent holds the rights to all three programs in Greater China, with an option to license global rights for one program and rights across all regions except North America for another program. Meanwhile, Bolt retains the option to license global rights for one program outside of Greater China and North American rights for another.
As per the deal, Innovent will be responsible for all research and development costs through clinical POC (proof-of-concept). In addition, on a program-by-program basis, the organizations can exercise license options for continuing development and exclusive commercialization rights in specified areas after reviewing the initial clinical proof-of-concept data.
As per sources, Bolt will be receiving a cash payment of $5 million from Innovent at the time of signing, as well as a potential future equity investment of up to $10 million. In addition, Innovent and Bolt are eligible for additional milestone payments and royalties related to the development and commercialization of products in each other's regions.