IDEAYA Announces Development Candidate Nomination of IDE034, a Potential First-in-Class B7H3/PTK7 Topo-I-Payload Bispecific ADC and Option Exercise with Biocytogen

Core Insights - IDEAYA Biosciences has nominated IDE034 as a development candidate, which is a potential first-in-class B7H3/PTK7 topo-I-payload bispecific antibody drug conjugate (BsADC) [1][2] - The company has exercised an option for an exclusive worldwide license for IDE034 from Biocytogen, indicating a strategic partnership [1][5] - IDEAYA aims to file for Investigational New Drug (IND) status with the FDA in 2025, targeting first-in-human clinical evaluations [1][4] Company Developments - IDE034 has shown robust tumor regressions in multiple preclinical models, highlighting its potential as a monotherapy and in combination with IDEAYA's PARG inhibitor IDE161 [2] - The co-expression rates of B7H3/PTK7 in lung, colorectal, and head and neck cancers are approximately 30%, 46%, and 27%, respectively, indicating a significant market opportunity [2][6] - IDEAYA's strategic objectives include the potential for monotherapy activity and application in priority solid tumor types [2] Financial Aspects - The total financial commitment for the license agreement with Biocytogen amounts to $406.5 million, which includes up to $100 million in development and regulatory milestone payments [5] - IDEAYA will pay upfront and option exercise fees, along with additional milestone payments and royalties on net sales [5] Partnership Insights - Biocytogen's proprietary RenLite® platform is validated through this partnership, which aims to impact patients with solid tumors [3] - The collaboration is expected to advance the IDE034 program towards clinical trials, enhancing both companies' capabilities in oncology [3]