TG Therapeutics Inc. (NASDAQ:TGTX) partnered with Novimmune S.A. (Plan-les-Ouates, Switzerland) to develop Novimmune’s TG-1801 (formerly NI-1701). The companies plan to begin clinical testing of the candidate this year or early next year, with a focus on hematologic B cell malignancies.
The kappa-lambda antibody is a human bispecific IgG targeting CD47 and CD19. TG and Novimmune said they expect it to be the world’s first anti-CD47 bispecific antibody to enter the clinic.
TG will be primarily responsible for development and commercialization of TG-1801. Novimmune will receive $3 million in TG stock up front and is eligible for early clinical development milestones. TG will cover development costs through the end of Phase II testing, after which the companies will be jointly responsible for development and commercialization costs. TG will have an exclusive option to license undisclosed rights to TG-1801. Novimmune would then be eligible for milestones totaling $185 million, plus tiered royalties. Novimmune also has an undisclosed exclusive option under the deal.
The companies did not respond to inquiries.
TG gained $0.65 to $14.60 on Wednesday.