BioNTech licenses solid tumor candidate from OncoC4

BioNTech (NASDAQ:BNTX) announced an exclusive license and collaboration agreement with Rockville, Maryland-based biopharma OncoC4 on Monday to jointly develop and commercialize the latter’s experimental cancer candidate, ONC-392, for various solid tumor indications.

ONC-392 is an anti-CTLA-4 monoclonal antibody candidate designed to kill immunosuppressive T cells (regulatory T cells, “Tregs”) in tumors without impacting Tregs in healthy tissues.

“We believe that this antibody is a valuable addition to our immuno-oncology portfolio, whether used alone or in combination with our personalized immunotherapies,” BioNTech (BNTX) Chief Executive Ugur Sahin said.

Under the partnership, BioNTech (BNTX) and OncoC4 will equally share the costs to develop ONC-392 as monotherapy and in combination with anti-PD-(L)-1 antibodies for multiple solid tumors, including non-small cell lung cancer.

Per the terms, OncoC4 will receive $200M upfront in addition to future payments linked to development, regulatory and commercial milestones, and double-digit tiered royalties.

The transaction is expected to close in H1 2023, and the companies plan to initiate a randomized Phase 3 trial for ONC-392 this year.

Seeking Alpha contributor Clinically Sound Investor issued a Buy rating on BioNTech (BNTX) early this month, citing multiple near-term catalysts for the biotech.