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LaNova of Shanghai Sells Myeloma ADC Candidate to AstraZeneca for $600 Million

publication date: May 15, 2023

Shanghai’s LaNova Medicines has sold global rights for a pre-clinical antibody drug conjugate candidate to AstraZeneca for $600 million (including $55 million upfront) plus royalties on sales. LaNova said LM-305 targets G protein-coupled receptor, class C, group 5, member D (GPRC5D). The candidate consists of an anti-GPRC5D monoclonal antibody, a protease-degradable linker and a cytotoxic payload, monomethyl auristatin E (MMAE). LM-305, which is aimed at multiple myeloma, has IND approvals in the US and China. Founded in 2019, LaNova has four clinical stage oncology candidates and eight pre-clinical molecules in development. More details....

Stock Symbol: (NSDQ: AZN)

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