First milestone payment for ADC-1013

Alligator Bioscience AB is a privately held Swedish biotech company developing immuno-oncology antibodies for directed immunotherapy of cancer. Alligator granted Johnson & Johnson an exclusive, worldwide license to Alligator’s clinical candidate ADC-1013 in an agreement entered in August 2015.

According to this agreement, Janssen will be responsible for developing ADC-1013 and will assume responsibility for the clinical studies once the ongoing, by Alligator sponsored Phase I dose escalation study is completed. Janssen will have exclusive rights to develop and commercialize ADC-1013 initially targeting a number of solid tumors and hematological cancers and will assume responsibility for all additional research, development, manufacturing, regulatory and commercialization activities.
There has been an amendment of the protocol to expand the current Phase I Clinical Study to include a systemic administration arm. This entitles Alligator to a milestone payment of USD 5M.
Separately Janssen and Alligator have also entered a research collaboration to broaden the pre-clinical data package of ADC-1013. Janssen will reimburse Alligator for 2.5 FTEs and running expenses under this agreement.
“It is very encouraging for the ADC-1013 project and the ongoing Phase I studies that the trials are progressing extremely well and are being expanded by a systemic administration arm. This will give us and our partner Janssen important information for the future development of ADC-1013” said Per Norlén CEO at Alligator Bioscience.

For further information, please contact:
Per Norlén, CEO Alligator Bioscience AB, Office number: +46 46 2864280

About ADC-1013
ADC-1013 is an agonistic fully human monoclonal antibody targeting CD40, an immuno-stimulatory receptor found on antigen-presenting cells such as dendritic cells. Stimulation of CD40 on dendritic cells initiates a process leading to a dramatic increase in T effector cells attacking the tumor. In addition, a tumor-specific memory is established, leading to long-term immunity to the cancer.

This press release contains forward-looking statements, consisting of subjective assumptions and forecasts for the future, and estimates are inherently subject to risks and uncertainties.

About Alligator
Alligator Bioscience discovers and develops innovative antibody based immunotherapies for the treatment of cancer. Alligator Drug Discovery and Development span from early research phases up to proof of concept phase I/II clinical studies in cancer patients. In the discovery of novel antibody based drugs, Alligator uses its proprietary technology platforms FIND® and ALLIGATOR-GOLD®. FIND® (Fragment INduced Diversity) is an antibody optimization technology based on single-stranded DNA allowing generation of antibodies with significant clinical benefits. ALLIGATOR-GOLD® is a synthetic library containing several billion distinct fully human antibodies.
Alligator Bioscience AB, founded in 2001, is a privately held company with around 200 shareholders, located at Medicon Village, Lund, Sweden.

Pressrelease as PDF