Novelty Nobility inks deal to license out antibody drug to US firm

2022.02.17 15:54:42 | 2022.03.14 17:48:01

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South Korea’s biotech startup Novelty Nobility on Wednesday announced an exclusive license agreement with U.S.-based ValenzaBio for the development and commercialization of NN2802, Novelty’s investigative autoimmune disease drug.

Under the terms of the agreement, Novelty Nobility received an undisclosed upfront payment from ValenzaBio and is eligible to receive certain sales royalties and additional development and sales milestones.

Novelty Nobility is also eligible to receive additional payments in development and commercial milestones, plus tiered royalties on future sales.

Under the agreement, ValenzaBio will have exclusive rights to develop and commercialize NN2802 worldwide.

NN2802 is potentially best-in-class anti-c-KIT mAb for mast cell-driven autoimmune diseases. c-KIT is a receptor tyrosine kinase critical to the survival and activation of mast cells. Blocking c-KIT has been shown to reduce mast cell degranulation and induce mast cell depletion in clinical studies, according to Novelty Nobility.

“Since a c-KIT inhibitor (CDX-0159) being developed by Celldex Therapeutics showed a 95 percent response rate with single injection in a Phase 1b clinical trial in July last year, we have received inquiries from American biotech firms about a possible license deal for NN2802,” said Jin Cho, chief finance and business officer of Novelty Nobility.

"The existing standard treatment shows a response rate of around 40 percent, suggesting that our c-KIT inhibitor can become a new standard in the treatment of various allergic diseases related to mast cells.”

“The impressive preclinical package assembled to date by Novelty Nobility suggests VB517 may offer best-in-class potential for the treatment of mast cell-driven diseases, including chronic urticaria,” said William Bonificio, Ph.D., chief strategy officer of ValenzaBio.

ValenzaBio is a biopharmaceutical company developing monoclonal antibody therapeutics for autoimmune and inflammatory indications. The company plans to prepare to start the development of NN2802 from 2023.

By Chung Seul-gi and Minu Kim

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