Genor Biopharma and TRC 2004, INC. Entered into GB261 License Agreement
August 5 , 2024
From Genor Biopharma, August 5, 2024
On 2 August, 2024, Genor Biopharma has entered into a license agreement (the “License Agreement”) and a stock purchase agreement (the “Stock Purchase Agreement”) with TRC 2004, Inc. (the “Licensee”), a company co-founded by Two River, LLC (“Two River”) and Third Rock Ventures in Delaware, the United States of America. Under the License Agreement, Genor Biopharma has agreed, among others, to grant the Licensee an exclusive worldwide license to develop, use, manufacture, commercialize and otherwise exploit GB261, excluding mainland China, Hong Kong, Macau and Taiwan.
Within the terms of the License Agreement and Stock Purchase Agreement, in consideration of the license, Genor Biopharma shall receive (i) a significant equity participation in the Licensee; (ii) a double digit million US dollars upfront payment; (iii) up to 443 million US dollars in milestone payments; and (iv) tiered single to double digits royalty payments on net sales.
About GB261
GB261 is a novel and differentiated CD20/CD3 bispecific T-Cell Engager (TCE) with ultra-low CD3 binding affinity, and full Fc functionality (ADCC and CDC). Genor Biopharma has previously successfully completed a Ph1/2 open-label multi-center study conducted in China and in Australia for B-NHL (DLBCL and FL). Results have shown a highly favorable safety and efficacy profile. GB261 has been shown, for example, to induce significantly less cytokine release (CRS), compared with other compounds in the same class. GB261’s profile positions it as a highly promising B-Cell depleting agent, with indication potential beyond oncology and in various immunology and autoimmune indications where patients have significant unmet medical needs. The collaboration with the Licensee will mainly focus on exploring GB261’s potential in autoimmune diseases.
About Genor Biopharma
Genor Biopharma is a commercially-ready biopharmaceutical company focusing on developing and commercializing oncology and immunology drugs. Genor Biopharma has obtained new drug application (“NDA”) approval for GB242 (anti-TNF-αantibody) in 6 immunology indications, and submitted Lerociclib (CDK 4/6 inhibitor) NDA in 2 breast cancer indications. The mission of Genor Biopharma is to become a biopharmaceutical engine in discovery, research, development, manufacturing and commercialization of innovative therapeutics. Since Genor Biopharma’s inception, Genor Biopharma has strategically focused on major therapeutic areas with substantial unmet medical needs in oncology, autoimmune and other chronic diseases.
About Licensee
The Licensee is a company co-founded by Two River and Third Rock Ventures, which are both experienced company builders each focused on advancing disruptive therapeutic technologies to patients. Two River is chaired by Arie Belldegrun, MD, a visionary entrepreneur and recognized leader in the development of cancer and immunotherapy products. Two River has founded some of the most successful cell therapy companies in the industry, including Kite Pharma (acquired by Gilead Sciences, Inc.), the developer of the leading global CD19 CAR-T therapy, Yescarta®. Third Rock Ventures is a leading healthcare venture firm that has raised 3.8 billion US dollars since its inception, fueling investment in over 60 portfolio companies that have delivered numerous products to market across multiple therapeutic modalities and indications.
On 2 August, 2024, Genor Biopharma has entered into a license agreement (the “License Agreement”) and a stock purchase agreement (the “Stock Purchase Agreement”) with TRC 2004, Inc. (the “Licensee”), a company co-founded by Two River, LLC (“Two River”) and Third Rock Ventures in Delaware, the United States of America. Under the License Agreement, Genor Biopharma has agreed, among others, to grant the Licensee an exclusive worldwide license to develop, use, manufacture, commercialize and otherwise exploit GB261, excluding mainland China, Hong Kong, Macau and Taiwan.
Within the terms of the License Agreement and Stock Purchase Agreement, in consideration of the license, Genor Biopharma shall receive (i) a significant equity participation in the Licensee; (ii) a double digit million US dollars upfront payment; (iii) up to 443 million US dollars in milestone payments; and (iv) tiered single to double digits royalty payments on net sales.
About GB261
GB261 is a novel and differentiated CD20/CD3 bispecific T-Cell Engager (TCE) with ultra-low CD3 binding affinity, and full Fc functionality (ADCC and CDC). Genor Biopharma has previously successfully completed a Ph1/2 open-label multi-center study conducted in China and in Australia for B-NHL (DLBCL and FL). Results have shown a highly favorable safety and efficacy profile. GB261 has been shown, for example, to induce significantly less cytokine release (CRS), compared with other compounds in the same class. GB261’s profile positions it as a highly promising B-Cell depleting agent, with indication potential beyond oncology and in various immunology and autoimmune indications where patients have significant unmet medical needs. The collaboration with the Licensee will mainly focus on exploring GB261’s potential in autoimmune diseases.
About Genor Biopharma
Genor Biopharma is a commercially-ready biopharmaceutical company focusing on developing and commercializing oncology and immunology drugs. Genor Biopharma has obtained new drug application (“NDA”) approval for GB242 (anti-TNF-αantibody) in 6 immunology indications, and submitted Lerociclib (CDK 4/6 inhibitor) NDA in 2 breast cancer indications. The mission of Genor Biopharma is to become a biopharmaceutical engine in discovery, research, development, manufacturing and commercialization of innovative therapeutics. Since Genor Biopharma’s inception, Genor Biopharma has strategically focused on major therapeutic areas with substantial unmet medical needs in oncology, autoimmune and other chronic diseases.
About Licensee
The Licensee is a company co-founded by Two River and Third Rock Ventures, which are both experienced company builders each focused on advancing disruptive therapeutic technologies to patients. Two River is chaired by Arie Belldegrun, MD, a visionary entrepreneur and recognized leader in the development of cancer and immunotherapy products. Two River has founded some of the most successful cell therapy companies in the industry, including Kite Pharma (acquired by Gilead Sciences, Inc.), the developer of the leading global CD19 CAR-T therapy, Yescarta®. Third Rock Ventures is a leading healthcare venture firm that has raised 3.8 billion US dollars since its inception, fueling investment in over 60 portfolio companies that have delivered numerous products to market across multiple therapeutic modalities and indications.