ModeX Therapeutics has entered into a licence and collaboration agreement with Regeneron Pharmaceuticals Inc to discover and develop multispecific antibodies for several therapeutic indications of mutual interest. The collaboration will apply ModeX’s MSTAR platform and Regeneron’s proprietary binders to develop multispecific antibody candidates that target multiple distinct biological pathways in a single molecule.

Under the terms of the agreement, ModeX will receive an upfront payment of USD 7 Million, and potential future product selection payments, clinical and regulatory milestone payments, and commercial milestone payments exceeding USD 200 Million per selected molecule.

“This agreement allows us to work closely with Regeneron, world leaders in the development of antibody medicines, to explore the promise of multispecific antibodies in new indications, including immunology, oncology and metabolic diseases. ModeX’s mission is to develop innovative antibodies that recognise multiple targets in a single molecule to treat life-threatening diseases,” said Gary Nabel, MD, PhD, President and Chief Executive Officer, ModeX and Chief Innovation Officer, OPKO Health.

The overall value of the collaboration potentially exceeds USD 1 Billion if multiple products from the collaboration are successful. In addition, ModeX is eligible to receive tiered global net sales royalties, up to low double digits at the highest tier.

“We have dramatically expanded the therapeutic potential of antibodies through our MSTAR platform. Our antibody candidates are already in clinical trials, providing unique disease target combinations and reliable manufacturing. We believe this collaboration, with Regeneron’s outstanding team, will advance the development of multispecific antibodies across a spectrum of chosen indications in several disease areas of high interest to both parties,” said Elias Zerhouni, MD, President and Vice Chairman, OPKO.

Regeneron will fund and lead any preclinical, clinical development and commercialisation activities for any products it elects to advance.

“Like Regeneron, ModeX has a team of scientist entrepreneurs who think creatively about science and technology. 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 multispecific antibodies and increasing our shots on goal by identifying more candidates faster to potentially help patients across multiple disease categories,” said George D Yancopoluos, MD, PhD, Board Co-Chair, President and Chief Scientific Officer, Regeneron.