LegoChem Biosciences (141080) announced on the 9th that it will receive a milestone payment from global partner SOTIO Biotech under their antibody-drug conjugate (ADC) platform technology licensing agreement.
ADCs, often called "guided missiles" for targeting cancer cells, are targeted therapies that link drugs (payloads) to antibodies via linkers to deliver treatment specifically to cancer cells. LegoChem's ConjuAll is a linker technology that precisely conjugates desired amounts of drugs to specific sites on antibodies.
The company signed an agreement with SOTIO in November 2021 to export its ADC platform technology. SOTIO has been developing solid tumor treatments by applying ConjuAll to its proprietary antibody technology. Through this agreement, LegoChem secured rights to receive up to $1.0275 billion (approximately 1.5 trillion won) in milestone payments across development and regulatory stages, plus sales-linked royalties. This milestone payment reflects progress on SOT106, an LRRC15-targeting ADC candidate under development by SOTIO.
SOT106 is expected to file for global clinical trial IND (Investigational New Drug) approval in the second half of this year.