ADC Therapeutics, Five Prime sign exclusive license agreement for human antibodies

Nov 6 2013

ADC Therapeutics Sarl (‘ADC Therapeutics’), a portfolio company of Auven Therapeutics and the oncology drug development company specializing in proprietary antibody drug conjugates (‘ADCs’), and Five Prime Therapeutics, Inc. (NASDAQ: FPRX), a clinical-stage biotechnology company focused on discovering and developing novel protein therapeutics for cancer and inflammatory diseases, today announced an exclusive license agreement for human antibodies directed to an undisclosed target expressed on the surface of various types of cancers.

Under the agreement, ADC Therapeutics plans to initiate preclinical research and development of antibody-drug conjugates using the antibodies licensed from Five Prime immediately, adding to ADC Therapeutics’ portfolio of proprietary ADC programs. ADC Therapeutics’ unique platform combines monoclonal antibodies specific to particular types of tumor cells with a novel class of highly potent pyrrolobenzodiazepine (PBD)-based warheads. As ADC Therapeutics’ PBD-based chemistries do not distort the structure of the DNA they give the prospect of highly potent, target-selective cancer therapies with fewer side effects and the potential to pre-empt resistance issues faced by other anti-cancer products on the market.

Dr. Peter B. Corr, Chairman of ADC Therapeutics and Managing General Partner of Auven Therapeutics, said: “We believe that ADCs offer a great opportunity to develop next generation oncology drugs that are more efficacious and with less side effects. The partnership with Five Prime further extends our exciting development portfolio of novel ADCs and we look forward to rapidly progressing the development plans.”

“ADC Therapeutics is a leader in developing proprietary antibody-drug conjugates targeting major cancers such as breast, lung, prostate, renal and blood,” said Lewis T. “Rusty” Williams, M.D., Ph.D., President and CEO of Five Prime. “We believe that antibodies directed toward this protein target, which is found on a variety of tumor types, will be most efficacious when armed with a cytotoxic drug conjugate.  This strategic license allows us to progress a program by leveraging Five Prime’s strength in the development of novel biologic products and ADCT’s complementary strength in arming antibodies for use in treating cancer.”

Financial terms were not disclosed and remain confidential.