Just two weeks after the multi-million dollar deal with the US cancer specialist OncoC4, the Mainz-based company agreed on another partnership.
(Photo: dpa)
Frankfurt Biontech is stepping on the gas as it expands its pipeline of cancer therapies. Just two weeks after the multi-million dollar deal with the US cancer specialist OncoC4, the Mainz-based biotech company is threading another partnership – this time worth billions.
Biontech has secured two potential cancer drugs for the treatment of solid tumors from the Chinese biotech company DualityBio, the company announced on Monday. DualityBio will receive an upfront payment of $170 million and is eligible for a potential of over $1.5 billion in contingent payments and tiered royalties on potential future product sales.
Biontech will have the worldwide commercial rights to the two agents excluding Mainland China, Hong Kong and Macau. However, DualityBio has an option to co-commercialize one of the two product candidates, DB-1311, in the United States.