NovoCodex Biopharma of Shanghai acquired China rights to an antibody drug conjugate aimed at CD70 positive cancers from San Diego’s Ambrx. The candidate targets renal cell cancers and melanoma. Previously, NovoCodex in-licensed rights to an Ambrx ADC for HER2 positive cancers. NovoCodex, a majority owned subsidiary of Zhejiang Medicine, will fund global development of ARX305 through Phase I clinical trials. It will also make an upfront payment along with development milestones and double digit royalties, though it will be eligible to receive an undisclosed share of ARX305 sales outside of China.
Source: China Biotoday
