Siamab Therapeutics, a biopharmaceutical company developing novel glycan-targeted cancer therapeutics, has signed a contract with an undisclosed, large commercial-stage biopharmaceutical company, it was reported yesterday.

The deal is valued at up to USD202m.

According to Siamb, the undisclosed company will develop and commercialise antibody-based products targeting a tumour-associated carbohydrate antigen identified by Siamab's proprietary TACA discovery platform. According to the terms of the contract, Siamab will receive a multimillion-dollar initial payment and is eligible to receive additional payments when specific milestones are achieved.

No additional terms have been revealed.