Wednesday, Regeneron Pharmaceuticals, Inc. (REGN) and ModeX Therapeutics Inc., an OPKO Health company (OPK) entered into a license and collaboration agreement to discover and develop multispecific antibodies for several therapeutic indications of mutual interest.
The collaboration will integrate ModeX's MSTAR platform with Regeneron's proprietary binders to develop multispecific antibody candidates that target multiple distinct biological pathways in a single molecule.
As per the terms of the deal, ModeX will receive an upfront payment of $7 million, and milestone payments exceeding $200 million per selected molecule. Additionally, ModeX is eligible to receive tiered global net sales royalties, up to low double digits at the highest tier.
George Yancopoluos, President and Chief Scientific Officer of Regeneron, commented, "By pairing Regeneron's expertise in drug development with ModeX's platform for multispecific antibodies, we are building on Regeneron's longstanding work in bi-and multi-specific antibodies and increasing our shots on goal by identifying more candidates faster to potentially help patients across multiple disease categories."
In the pre-market hours, REGN is trading at $651.16, down 0.51 percent on the Nasdaq.
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