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Alligator Bioscience enters agreement with Orion

Søren Bregenholt and Outi Vaarala

Alligator Bioscience has entered into a research collaboration and license agreement with Orion Corporation to discover and develop together new bispecific antibody cancer therapeutics.

The research collaboration will focus on the discovery of novel bispecific antibodies directed towards immuno-oncology targets selected by Orion. The agreement covers an option to develop three bispecific antibodies. Under the agreement, Alligator Bioscience will employ its phage display libraries and RUBY bispecific platform to develop immuno-oncology product candidates based on design criteria identified by Orion.

“We are excited to enter into this collaborative research program which combines Alligator Bioscience’s expertise in antibody discovery and immuno-oncology development with Orion’s insights into novel immuno-oncology approaches and welcomed the opportunity to work with Orion,” says Søren Bregenholt, CEO of Alligator Bioscience. “This agreement validates that Alligator Bioscience’s extensive range of phage display libraries and our RUBY bispecific platform offer a solid foundation to identify and develop high quality first-in-class therapeutic antibodies with excellent manufacturability characteristics.”

Sales milestone payments of up to 469 million EUR

During the initial research period of the collaboration, Alligator Bioscience will receive an upfront payment and research support payments.  Additionally, as part of the agreement, Alligator Bioscience is eligible for development, approval and sales milestone payments of up to 469 million euros, in addition to royalties if Orion exercises its options to continue development and commercialization of the resulting product candidates.

“We are particularly pleased with this collaboration with Alligator Bioscience to develop new immuno-oncology treatments mobilizing the immune system to eliminate cancer cells. Bispecific antibodies provide as a tool many advantages for the next generation immuno-oncology treatments with improved efficacy, particularly in the cancer patients who do not respond to the present available therapeutics,” says Outi Vaarala, Senior Vice President, R&D, Orion.

Photo of Søren Bregenholt, CEO, Alligator Bioscience and Outi Vaarala, Senior Vice President R&D, Orion