LegoChem Biosciences (141080) announced on the 27th that it will receive a development milestone payment from Japan's Ono Pharmaceutical Co. related to its antibody-drug conjugate (ADC) platform technology transfer. This comes approximately six weeks after the company received its previous milestone on the 8th of last month.
LegoChem Biosciences and Ono Pharmaceutical signed a joint research agreement in October 2024 for drug candidate discovery utilizing LegoChem's ADC platform "ConjuAll."
"Since completing designation of the first target in March last year, we have achieved development milestones in consecutive months, demonstrating that our partnership is operating very efficiently," a LegoChem Biosciences official said. "The rapid progress within such a short period signifies that LegoChem's ADC platform technology possesses the high stability and scalability that meet global pharmaceutical company standards."
The specific milestone amount and detailed terms were not disclosed per the agreement between the two companies. The milestone payment is expected to enhance LegoChem's cash flow stability while increasing commercialization prospects for new drugs based on its ConjuAll platform.
"Building on last month's achievement, we continue to deliver planned results through close collaboration with Ono Pharmaceutical," said Park Se-jin, President of LegoChem Biosciences. "We will continue to maximize our pipeline value and pursue results-driven R&D to solidify our position as a leading global ADC company."
