Precision medicine oncology company IDEAYA Biosciences Inc (Nasdaq: IDYA) announced on Monday that it has nominated IDE034, a potential first-in-class B7H3/PTK7 topo-I-payload bispecific antibody-drug conjugate (BsADC), as a development candidate.

This follows the exercise of an exclusive worldwide licensing option from Biocytogen Pharmaceuticals (Beijing) Co, Ltd (HKEX: 02315).

IDEAYA plans to file an Investigational New Drug (IND) application with the FDA in 2025 to commence clinical evaluation.

IDE034, designed for potential monotherapy and combination use with IDEAYA's PARG inhibitor IDE161, targets solid tumours including lung and colorectal, as well as head and neck cancers, where B7H3/PTK7 co-expression rates are approximately 30%, 46% and 27%, respectively. IDEAYA will make up to USD406.5m in payments to Biocytogen, covering development milestones and royalties.