ArriVent BioPharma, a clinical-stage company focused on accelerating the global development of  biopharmaceutical therapeutics, has entered into an exclusive license agreement with Lepu Biopharma for MRG007, an antibody-drug conjugate (ADC) that can target several gastrointestinal (GI) cancers.

Under the terms of the agreement, ArriVent obtains the exclusive rights to develop and commercialise MRG007 globally outside of Greater China which includes mainland China, Hong Kong, Macau and Taiwan.

In pre-clinical trials, the novel ADC has shown strong anti-tumour activity against GI cancer cells, as well as an encouraging therapeutic index, based on investigational new drug (IND) studies. The initial IND proposal is aimed to be carried out within the first half of 2025 and will have a focus on pancreatic, colorectal and other GI cancers. Lepu Biopharma will receive an upfront payment and conditional milestone payments totalling $47 million; and is also eligible to receive up to $1.16 billion in development, regulatory and sales milestones as well as tiered royalties on net sales (outside of Greater China).