3B Pharmaceuticals enters into a Global Exclusive Licensing Agreement for its FAP-Targeting Peptide Technology
Licensing agreement with Novartis includes exclusive worldwide rights to develop and commercialize therapeutic and imaging applications for 3BP's FAP-targeting technology
3B Pharmaceuticals GmbH (3BP), a private German biotechnology company developing targeted radiopharmaceutical drugs and diagnostics for oncology indications, announced that it has entered into an amended and restated licensing agreement with Novartis Innovative Therapies AG (Novartis) for 3BP's FAP-targeting peptide technology.
The agreement gives Novartis exclusive worldwide rights to develop and commercialize therapeutic and imaging applications for 3BP's FAP-targeting peptide technology, including FAP-2286. FAP-2286 targets fibroblast activation protein (FAP), a promising theranostic target with expression across a majority of cancers. FAP-2286 was the first peptide-targeted radioligand therapy (PT-RLT) targeting FAP to enter clinical development together with the respective imaging agent, making it the most advanced radioligand therapy in its class. It is currently being tested in a phase 1 clinical trial (LuMIERE).
Under the terms of the agreement, 3BP receives an initial payment of $40 million as well as up to $425 million in development, regulatory, and commercial milestone payments, in addition to tiered royalties on net sales. 3BP retains certain rights to develop its FAP-targeting imaging technology for diagnostic purposes.
3BP entered into a license and collaboration agreement in 2019 with Clovis Oncology focusing on the development of a peptide-targeted radiotherapy and imaging agent targeting FAP. The new agreement with Novartis encompasses 3BP's entire FAP-targeting peptide technology and worldwide rights.
“We are grateful to our partner Clovis Oncology for the excellent translation and early clinical development of FAP-2286. We believe the new agreement with Novartis is an ideal partnership for the further clinical development of FAP-2286 for the benefit of patients with many different types of cancer,” said Dr. Christiane Smerling, Head of Nuclear Medicine & Imaging at 3BP.
“We have focused for many years on developing a peptide technology platform to create innovative radiopharmaceuticals and this agreement validates the value of 3BP’s platform,” added Dr. Ulrich Reineke, Managing Director of 3BP. “This partnership will allow us to continue to expand our core competencies and dedicate resources to the further development of our pipeline.”
About FAP-2286
FAP-2286 is a clinical candidate under investigation as a peptide-targeted radionuclide therapy (PTRT) and imaging agent targeting fibroblast activation protein (FAP). FAP-2286 consists of two functional elements; a targeting peptide that binds to FAP and a site that can be used to attach radioactive isotopes for imaging and therapeutic use.
About 3BP
3B Pharmaceuticals discovers and develops targeted radiopharmaceuticals providing a focused and personalized approach to the treatment of cancer. Our peptides and peptidomimetics constitute excellent tumor-specific targeting moieties and are coupled to therapeutic and diagnostic radioisotopes via a chelator. As a leader in peptide discovery and optimization, 3BP has built a technology platform extending from hit identification to early clinical development.
Contact:
3B Pharmaceuticals Media Contact
Dr. Jan Michel
Director Finance & Corporate Development
Tel.: +49 (30) 6392-4317
Email: jan.michel(at)3b-pharma.com
Press release from 24 April 2023