NoveltyNovelty Licenses ADC Cancer Drug Candidate NN3201 in $553 Million Deal

Exclusive Global Development and Commercialization Rights Transferred to U.S. Biotech
Currently Undergoing Phase 1 Clinical Trial in the United States
"Exploring Potential for Hematologic Cancer Treatment"

NoveltyNovelty has licensed its antibody-drug conjugate (ADC) oncology drug candidate NN3201, which targets c-Kit, to a U.S. biotech company.

NoveltyNovelty announced on October 6 that it had signed a global technology transfer agreement for NN3201 with a U.S. biotech company on September 30. The total deal is valued at $553 million (approximately KRW 744.3 billion). The identity of the partner company and detailed terms have not been disclosed in accordance with mutual agreement. NoveltyNovelty will receive additional milestone and royalty payments based on sales after commercialization.

Noveltynovelty company logo image. Noveltynovelty

Through this agreement, the partner company secures exclusive worldwide rights to develop and commercialize NN3201. NN3201 is currently undergoing a basket-type Phase 1 clinical trial in the United States targeting patients with solid tumors that overexpress c-Kit.

Unlike existing small-molecule c-Kit targeted therapies, NN3201 targets extracellular c-Kit. c-Kit is a cell membrane protein that is overexpressed in various solid and hematologic tumors, and mutations in c-Kit are known to be involved in tumorigenesis. Previously, most small-molecule targeted therapies have been developed to bind to intracellular c-Kit mutations.

NoveltyNovelty expects that NN3201, which is designed to bind to extracellular c-Kit without mutations, will demonstrate antitumor efficacy regardless of the c-Kit mutation type.

The company also plans to evaluate the potential of NN3201 for treating hematologic cancers in collaboration with its partner. In particular, they are focusing on acute myeloid leukemia (AML) as a major indication. For relapsed/refractory AML, treatment options remain limited even after standard therapies.

Sangkyu Park, CEO of NoveltyNovelty, stated, "This technology transfer agreement is significant not only as a commercialization achievement, but also as a foundation for our company's continued growth," adding, "We will work closely with our partner to ensure NN3201 reaches patients who are hoping for new therapeutic options."

This content was produced with the assistance of AI translation services.