WASHINGTON (dpa-AFX) - Harris & Harris Group, Inc. (TINY), an investor in nanotechnology companies, said Wednesday that its portfolio company, Mersana Therapeutics Inc. has signed a collaboration agreement with Endo Pharmaceuticals to develop next-generation antibody-drug conjugates, or ADC.
As per the agreement, Endo will pay an upfront fee to Mersana for the right to utilize Fleximer technology, the proprietary conjugation technology of Mersana, to develop novel ADC candidates against a single cancer target.
The deal requires Mersana to conduct research and create Fleximer-ADC's that are conjugates of its cytotoxic payloads, Fleximer and Endo's novel antibodies. In addition to providing the antibodies, Endo is responsible for product development, manufacturing and commercialization of any Fleximer-ADC products.
Mersana and Endo may mutually agree to pursue two additional targets over the next two years. If all three targets are pursued, Mersana is eligible to receive more than $270 million in progress-dependent milestones as well as royalties on worldwide net sales of any resulting Fleximer-ADC products.
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