Biotechnology company Biocytogen Pharmaceuticals (Beijing) Co Ltd (HKEX:02315) said on Wednesday that it has granted precision medicine oncology company IDEAYA Biosciences Inc (Nasdaq:IDYA) an option for an exclusive worldwide licence to develop a potential first-in-class B7H3/PTK7 topo-I-payload bispecific antibody drug conjugate (BsADC) programme.

B7H3/PTK7 is co-expressed in multiple solid tumour types, including lung, colorectal, and head and neck cancers.

Under the agreement, Biocytogen is eligible for an upfront fee, option exercise fee, development and regulatory milestones, and royalties. Total potential payments could reach USD406.5m.

The B7H3/PTK7 BsADC programme has potential as a monotherapy and in combination with IDEAYA's DNA Damage Repair (DDR) pipeline, including PARG inhibitor IDE161. A development candidate nomination is expected in the second half of 2024.