SPARC enters licensing pact with Biomodifying for licensing of novel drug targets against cancer

Sun Pharma Advanced Research Company (SPARC) on Friday said it has entered into an agreement with US-based Biomodifying LLC to exclusively license the latter's intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses including for cancer.
Under the agreement, Biomodifying is eligible for an up-front payment, milestone payments on pre-specified clinical, regulatory, and commercial milestones, as well as royalties on sales.

In addition, SPARC will pay Biomodifying a percentage of payments received for sublicenses of the licensed IP.

“This is an important milestone for SPARC. The licensing of antibodies from Biomodifying will assist us in our endeavour to transition SPARC into a company focussed on novel treatment modalities, including bi-specific antibodies and antibody drug conjugates" said Anil Raghavan, CEO of SPARC.

Biomodifying identifies therapies that target cancer cells, while sparing normal, non-cancerous tissues – an approach that is expected to contribute to the development of less toxic chemotherapy regimens.